Wix.com Ltd. (NASDAQ:WIX) Shares Acquired by Lido Advisors LLC

Lido Advisors LLC lifted its holdings in Wix.com Ltd. (NASDAQ:WIX) by 64.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,443 shares of the information services provider’s stock after purchasing an additional 1,734 shares during the period. Lido Advisors LLC’s holdings in Wix.com were worth $953,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Wix.com in the 4th quarter valued at about $256,000. Bank of New York Mellon Corp raised its holdings in Wix.com by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider’s stock valued at $26,738,000 after acquiring an additional 11,048 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Wix.com by 5.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider’s stock worth $22,603,000 after acquiring an additional 5,286 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Wix.com during the 4th quarter worth approximately $321,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Wix.com by 159.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 22,596 shares of the information services provider’s stock valued at $4,848,000 after purchasing an additional 13,894 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WIX has been the subject of a number of analyst reports. Scotiabank started coverage on shares of Wix.com in a research note on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 target price for the company. Piper Sandler upped their price objective on Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Bank of America raised their target price on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Jefferies Financial Group lowered their price target on Wix.com from $265.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Oppenheimer cut their price objective on shares of Wix.com from $250.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $237.74.

Wix.com Trading Down 0.7 %

NASDAQ:WIX opened at $166.83 on Friday. The stock’s 50 day simple moving average is $169.00 and its 200-day simple moving average is $196.20. Wix.com Ltd. has a 12-month low of $118.61 and a 12-month high of $247.11. The firm has a market cap of $9.36 billion, a P/E ratio of 70.99, a PEG ratio of 2.83 and a beta of 1.56.

Wix.com declared that its Board of Directors has approved a share buyback 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 buy up to 1.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board 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.