Cullen Frost Bankers Inc. Purchases 55 Shares of Wix.com Ltd. (NASDAQ:WIX)

Cullen Frost Bankers Inc. raised its position in Wix.com Ltd. (NASDAQ:WIX) by 9.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 608 shares of the information services provider’s stock after buying an additional 55 shares during the period. Cullen Frost Bankers Inc.’s holdings in Wix.com were worth $130,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WIX. SG Americas Securities LLC grew its stake in shares of Wix.com by 558.5% in the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after purchasing an additional 400,265 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Wix.com by 545.7% during the 3rd quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock worth $39,864,000 after buying an additional 201,532 shares during the period. Whale Rock Capital Management LLC grew its position in shares of Wix.com by 31.6% in the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after buying an additional 165,810 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Wix.com by 90.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider’s stock valued at $39,859,000 after buying an additional 87,327 shares during the period. Finally, Polar Asset Management Partners Inc. raised its position in shares of Wix.com by 192.9% during the third quarter. Polar Asset Management Partners Inc. now owns 98,500 shares of the information services provider’s stock worth $16,466,000 after acquiring an additional 64,869 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WIX has been the topic of several analyst reports. Piper Sandler upped 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. Bank of America increased their target price on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Wells Fargo & Company cut their target price on Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a research report on Friday. Citigroup increased their price target on Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Robert W. Baird raised their price objective on Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.00.

Wix.com Trading Down 0.2 %

Wix.com stock opened at $186.56 on Monday. The business’s 50 day simple moving average is $221.14 and its 200 day simple moving average is $196.02. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 79.39, a PEG ratio of 2.83 and a beta of 1.64.

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

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.