Sequoia Financial Advisors LLC Purchases New Stake in Wix.com Ltd. (NASDAQ:WIX)

Sequoia Financial Advisors LLC acquired a new position in Wix.com Ltd. (NASDAQ:WIX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 986 shares of the information services provider’s stock, valued at approximately $212,000.

Several other institutional investors have also recently added to or reduced their stakes in WIX. Advisors Asset Management Inc. raised its position in shares of Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares during the period. Avior Wealth Management LLC grew its stake in Wix.com by 79.5% during the 4th 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 last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Wix.com in the fourth quarter worth $43,000. Global Retirement Partners LLC boosted its holdings in shares of Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 58 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Wix.com during the fourth quarter worth about $52,000. Institutional investors own 81.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on WIX. Citigroup lifted their price objective on shares of Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Jefferies Financial Group boosted their price objective on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. StockNews.com upgraded Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 14th. Benchmark boosted their price target on Wix.com from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, UBS Group set a $250.00 price target on Wix.com in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

Wix.com Stock Down 1.9 %

WIX opened at $169.13 on Friday. The business has a fifty day simple moving average of $212.52 and a 200-day simple moving average of $196.02. The firm has a market cap of $9.27 billion, a PE ratio of 71.97, a P/E/G ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11.

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