Loomis Sayles & Co. L P Decreases Position in Wix.com Ltd. (NASDAQ:WIX)

Loomis Sayles & Co. L P lowered its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,068 shares of the information services provider’s stock after selling 5,678 shares during the quarter. Loomis Sayles & Co. L P owned 0.33% of Wix.com worth $39,277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. BNP Paribas Financial Markets lifted its position in shares of Wix.com by 60.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after buying an additional 11,497 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Wix.com during the 4th quarter worth $256,000. XTX Topco Ltd grew its position in Wix.com by 348.6% during the 3rd quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock worth $1,488,000 after purchasing an additional 6,919 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Wix.com in the third quarter valued at $890,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Wix.com by 9.7% during the fourth quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider’s stock worth $26,738,000 after buying an additional 11,048 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their target price on Wix.com from $249.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Cantor Fitzgerald upped their price objective on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $235.00 target price on shares of Wix.com in a report on Wednesday, February 19th. JMP Securities reissued a “market outperform” rating and set a $240.00 price target on shares of Wix.com in a report on Tuesday, February 18th. Finally, Wells Fargo & Company lowered their price objective on Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.74.

Wix.com Stock Up 3.1 %

WIX opened at $173.88 on Friday. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The firm has a market capitalization of $9.53 billion, a P/E ratio of 73.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. The stock’s 50 day moving average price is $206.48 and its two-hundred day moving average price is $196.46.

Wix.com declared that its board has approved a share repurchase program on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.