Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 5.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 27,670 shares of the information services provider’s stock after selling 1,600 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Wix.com were worth $5,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wix.com during the 4th quarter worth approximately $43,000. Avior Wealth Management LLC increased its position in Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after buying an additional 89 shares during the period. Global Retirement Partners LLC lifted its stake in Wix.com by 36.0% in the fourth 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 position in shares of Wix.com during the fourth quarter valued at $52,000. Finally, Blue Trust Inc. increased its holdings in shares of Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after acquiring an additional 56 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WIX has been the topic of several analyst reports. Barclays raised their price target on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Wells Fargo & Company raised Wix.com from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $169.00 to $176.00 in a research note on Tuesday, April 8th. UBS Group set a $250.00 price objective on shares of Wix.com in a report on Wednesday, March 5th. Scotiabank started coverage on shares of Wix.com in a research report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price target on the stock. Finally, Piper Sandler increased their price objective on shares of Wix.com from $249.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $238.89.

Wix.com Stock Performance

Wix.com stock opened at $146.50 on Tuesday. The company has a 50 day moving average price of $177.75 and a 200 day moving average price of $196.38. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 62.34, a P/E/G ratio of 2.83 and a beta of 1.65.

Wix.com announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.