Swiss National Bank Trims Holdings in Wix.com Ltd. (NASDAQ:WIX)

Swiss National Bank lessened its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 145,900 shares of the information services provider’s stock after selling 11,900 shares during the period. Swiss National Bank’s holdings in Wix.com were worth $31,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Wix.com by 1.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,067 shares of the information services provider’s stock valued at $16,728,000 after buying an additional 1,161 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Wix.com during the third quarter worth $461,000. Metis Global Partners LLC purchased a new stake in Wix.com in the third quarter valued at $200,000. CIBC Asset Management Inc lifted its stake in shares of Wix.com by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,973 shares of the information services provider’s stock valued at $831,000 after purchasing an additional 170 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Wix.com by 2.2% during the 3rd quarter. Natixis Advisors LLC now owns 14,414 shares of the information services provider’s stock worth $2,410,000 after purchasing an additional 306 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Trading Up 1.4 %

Shares of WIX opened at $174.99 on Tuesday. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 74.46, a PEG ratio of 2.83 and a beta of 1.64. The firm’s fifty day simple moving average is $215.72 and its 200-day simple moving average is $196.36. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11.

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

Analyst Upgrades and Downgrades

WIX has been the subject of several research analyst reports. Cantor Fitzgerald increased their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Raymond James upgraded shares of Wix.com from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $225.00 to $300.00 in a report on Tuesday, January 21st. B. Riley boosted their target price on Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. StockNews.com raised Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Jefferies Financial Group increased their target price on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wix.com presently has an average rating of “Moderate Buy” and a consensus price target 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.