Marietta Investment Partners LLC Buys Shares of 5,830 Wix.com Ltd. (NASDAQ:WIX)

Marietta Investment Partners LLC bought a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,830 shares of the information services provider’s stock, valued at approximately $1,251,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WIX. Advisors Asset Management Inc. increased its holdings in Wix.com by 112.1% in the 3rd 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 in the last quarter. Avior Wealth Management LLC lifted its position in Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after buying an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Wix.com in the fourth quarter worth $43,000. Global Retirement Partners LLC increased its stake in Wix.com by 36.0% in 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 period. Finally, SBI Securities Co. Ltd. purchased a new stake in Wix.com in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

WIX opened at $172.33 on Friday. The stock’s 50 day moving average price is $211.60 and its 200 day moving average price is $196.06. The stock has a market cap of $9.45 billion, a P/E ratio of 73.33, a P/E/G ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WIX shares. Jefferies Financial Group raised their price target on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. StockNews.com raised Wix.com from a “buy” rating to a “strong-buy” rating in a report on Friday, March 14th. Bank of America boosted their price target on Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. UBS Group set a $250.00 price objective on Wix.com in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 price target on shares of Wix.com in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $243.74.

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.