Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 3.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,793 shares of the information services provider’s stock after selling 457 shares during the quarter. Victory Capital Management Inc.’s holdings in Wix.com were worth $2,959,000 at the end of the most recent quarter.

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

Wix.com Trading Down 0.1 %

WIX stock opened at $172.59 on Monday. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11. The company’s 50 day moving average is $216.76 and its two-hundred day moving average is $196.28. The stock has a market cap of $9.46 billion, a P/E ratio of 73.44, a PEG ratio of 2.83 and a beta of 1.64.

Wix.com announced that its board has authorized a share repurchase program on Thursday, February 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on WIX. StockNews.com raised shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Friday. Wells Fargo & Company lowered their target price on shares of Wix.com from $194.00 to $169.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. Piper Sandler raised their price objective on shares of Wix.com from $249.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. B. Riley raised their price objective on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $248.00 to $276.00 in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $243.74.

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.