Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd trimmed its stake in Wix.com Ltd. (NASDAQ:WIX) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,412 shares of the information services provider’s stock after selling 272 shares during the quarter. Plato Investment Management Ltd’s holdings in Wix.com were worth $950,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its holdings in shares of Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after acquiring an additional 130 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of Wix.com by 79.5% in 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 period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Wix.com in the fourth quarter valued at $43,000. Global Retirement Partners LLC grew its position in shares of Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 58 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Wix.com in the fourth quarter valued at $52,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Stock Performance

NASDAQ:WIX opened at $189.37 on Tuesday. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The business’s 50-day simple moving average is $223.85 and its 200 day simple moving average is $195.42. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 80.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.58.

Wix.com declared that its board has approved a stock buyback program on Thursday, February 27th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on WIX. JMP Securities reaffirmed a “market outperform” rating and issued a $240.00 price objective on shares of Wix.com in a research report on Tuesday, February 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Wix.com in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Wix.com in a research report on Wednesday, February 19th. Barclays lifted their price objective on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Jefferies Financial Group boosted their price target on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.83.

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.