Swiss National Bank Sells 11,900 Shares of Wix.com Ltd. (NASDAQ:WIX)

Swiss National Bank decreased its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,900 shares of the information services provider’s stock after selling 11,900 shares during the period. Swiss National Bank owned approximately 0.27% of Wix.com worth $31,303,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WIX. SG Americas Securities LLC lifted its position in Wix.com by 558.5% during the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after purchasing an additional 400,265 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Wix.com by 545.7% in the 3rd quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after acquiring an additional 201,532 shares during the last quarter. Whale Rock Capital Management LLC grew its position in Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after acquiring an additional 165,810 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Wix.com by 90.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider’s stock worth $39,859,000 after acquiring an additional 87,327 shares during the last quarter. Finally, Polar Asset Management Partners Inc. lifted its stake in shares of Wix.com by 192.9% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 98,500 shares of the information services provider’s stock valued at $16,466,000 after purchasing an additional 64,869 shares during the last quarter. 81.52% of the stock is owned by institutional investors.

Wix.com Stock Up 1.4 %

WIX stock opened at $174.99 on Tuesday. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The stock has a market capitalization of $9.59 billion, a P/E ratio of 74.46, a P/E/G ratio of 2.83 and a beta of 1.64. The firm has a 50-day simple moving average of $215.72 and a 200-day simple moving average of $196.36.

Wix.com announced that its Board of Directors has approved a share buyback plan on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WIX shares. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. B. Riley boosted their price objective on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barclays raised their target price on shares of Wix.com from $236.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $235.00 price target on shares of Wix.com in a report on Wednesday, February 19th. Finally, JMP Securities reissued a “market outperform” rating and issued a $240.00 price objective on shares of Wix.com in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and an average price target of $243.74.

About Wix.com

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.