1,122 Shares in Wix.com Ltd. (NASDAQ:WIX) Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC purchased a new position in shares of Wix.com Ltd. (NASDAQ:WIX) in the 4th quarter, Holdings Channel reports. The firm purchased 1,122 shares of the information services provider’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in 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 purchasing an additional 11,048 shares during the last quarter. Olympiad Research LP increased its position in Wix.com by 55.8% during the fourth quarter. Olympiad Research LP now owns 1,865 shares of the information services provider’s stock worth $400,000 after purchasing an additional 668 shares during the last quarter. Meitav Investment House Ltd. increased its position in Wix.com by 2.7% during the fourth quarter. Meitav Investment House Ltd. now owns 252,951 shares of the information services provider’s stock worth $54,248,000 after purchasing an additional 6,713 shares during the last quarter. Handelsbanken Fonder AB increased its position in Wix.com by 2.1% during the fourth quarter. Handelsbanken Fonder AB now owns 9,594 shares of the information services provider’s stock worth $2,058,000 after purchasing an additional 195 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on WIX. StockNews.com raised shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. B. Riley increased their price objective on shares of Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. UBS Group increased their price objective on shares of Wix.com from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Piper Sandler increased their price objective on shares of Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, JMP Securities reissued a “market outperform” rating and issued a $240.00 price objective on shares of Wix.com in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $245.83.

Wix.com Price Performance

Shares of WIX stock opened at $200.69 on Friday. The firm has a market cap of $11.00 billion, a P/E ratio of 85.40, a P/E/G ratio of 2.83 and a beta of 1.58. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The firm has a fifty day moving average of $224.89 and a two-hundred day moving average of $194.44.

Wix.com declared that its Board of Directors has authorized a stock buyback program on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors 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.