Wealth Enhancement Advisory Services LLC Buys 193 Shares of Wix.com Ltd. (NASDAQ:WIX)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,468 shares of the information services provider’s stock after buying an additional 193 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Wix.com were worth $530,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of Wix.com by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider’s stock worth $26,738,000 after purchasing an additional 11,048 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Wix.com by 5.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider’s stock worth $22,603,000 after purchasing an additional 5,286 shares during the period. Van ECK Associates Corp boosted its position in shares of Wix.com by 0.6% in the fourth quarter. Van ECK Associates Corp now owns 16,946 shares of the information services provider’s stock worth $3,636,000 after purchasing an additional 107 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Wix.com by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,973 shares of the information services provider’s stock worth $7,933,000 after purchasing an additional 612 shares during the period. Finally, LPL Financial LLC boosted its position in shares of Wix.com by 24.4% in the fourth quarter. LPL Financial LLC now owns 7,277 shares of the information services provider’s stock worth $1,561,000 after purchasing an additional 1,429 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Down 2.0%

Shares of WIX opened at $155.50 on Thursday. The stock has a 50 day moving average price of $161.72 and a 200 day moving average price of $193.32. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 66.17, a price-to-earnings-growth ratio of 2.83 and a beta of 1.31. Wix.com Ltd. has a 52-week low of $137.94 and a 52-week high of $247.11.

Wix.com announced that its board has authorized a stock buyback plan on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on WIX shares. Benchmark lowered their target price on shares of Wix.com from $260.00 to $245.00 and set a “buy” rating on the stock in a report on Monday, May 19th. Wells Fargo & Company lowered their target price on shares of Wix.com from $176.00 to $173.00 and set an “equal weight” rating on the stock in a report on Thursday, May 22nd. Citigroup lowered their target price on shares of Wix.com from $280.00 to $238.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Scotiabank started coverage on shares of Wix.com in a report on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $250.00 target price on shares of Wix.com in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and a consensus price target of $226.68.

Wix.com Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.