Wix.com Ltd. (NASDAQ:WIX) Stock Holdings Lessened by Prudential Financial Inc.

Prudential Financial Inc. lessened its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 27.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,301 shares of the information services provider’s stock after selling 6,181 shares during the period. Prudential Financial Inc.’s holdings in Wix.com were worth $3,497,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in shares of Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Wix.com during the 4th quarter valued at approximately $43,000. Global Retirement Partners LLC grew its stake in Wix.com by 36.0% during the 4th 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 last quarter. SBI Securities Co. Ltd. acquired a new stake in Wix.com in the fourth quarter worth $52,000. Finally, Blue Trust Inc. lifted its stake in Wix.com by 28.3% in the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Up 0.4 %

WIX opened at $164.00 on Wednesday. The firm has a market cap of $9.20 billion, a PE ratio of 69.79, a P/E/G ratio of 2.83 and a beta of 1.65. The business has a fifty day simple moving average of $201.95 and a 200-day simple moving average of $197.25. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Cantor Fitzgerald upped their price target 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. Scotiabank assumed coverage on shares of Wix.com in a research note on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 price target on the stock. Bank of America boosted their price objective on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $225.00 to $300.00 in a research report on Tuesday, January 21st. Finally, Citigroup increased their price target on Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Wix.com currently has an average 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.