Wix.com Ltd. (NASDAQ:WIX) Stock Holdings Raised by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,319 shares of the information services provider’s stock after purchasing an additional 264 shares during the period. Corient Private Wealth LLC’s holdings in Wix.com were worth $927,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in Wix.com during the fourth quarter valued at $43,000. Avior Wealth Management LLC boosted its holdings in shares of Wix.com by 79.5% in the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after buying an additional 89 shares during the period. Global Retirement Partners LLC grew its position in shares of Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after buying an additional 58 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Wix.com during the fourth quarter worth about $52,000. Finally, Advisors Asset Management Inc. lifted its holdings in Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after acquiring an additional 130 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Wix.com from $194.00 to $169.00 and set an “underweight” rating for the company in a report on Friday, March 7th. Piper Sandler increased their target price on Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $248.00 to $276.00 in a report on Monday, January 13th. UBS Group set a $250.00 price objective on shares of Wix.com in a report on Wednesday, March 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $245.00 target price on shares of Wix.com in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and an average price target of $243.74.

Wix.com Stock Performance

WIX opened at $173.88 on Friday. The company has a market capitalization of $9.53 billion, a PE ratio of 73.99, a P/E/G ratio of 2.83 and a beta of 1.64. The stock’s fifty day moving average is $206.48 and its 200-day moving average is $196.46. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11.

Wix.com declared that its board has authorized a stock buyback plan on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wix.com Company 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.