Wix.com Ltd. (NASDAQ:WIX) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 329,543 shares of the information services provider’s stock after selling 12,800 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.60% of Wix.com worth $70,703,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WIX. Newbridge Financial Services Group Inc. purchased a new stake in shares of Wix.com in the 4th quarter worth about $43,000. Avior Wealth Management LLC boosted its position in shares of Wix.com by 79.5% in the 4th 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 in the last quarter. Global Retirement Partners LLC boosted its position in shares of Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after buying an additional 58 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Wix.com in the 4th quarter worth about $52,000. Finally, Blue Trust Inc. boosted its position in shares of Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after buying an additional 56 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WIX. Wall Street Zen lowered shares of Wix.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Benchmark decreased their price objective on shares of Wix.com from $260.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Morgan Stanley decreased their price objective on shares of Wix.com from $276.00 to $207.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada decreased their price objective on shares of Wix.com from $245.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Needham & Company LLC restated a “buy” rating and issued a $250.00 target price on shares of Wix.com in a report on Wednesday. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $226.16.

Wix.com Price Performance

Shares of WIX stock opened at $151.26 on Friday. The firm has a market cap of $8.49 billion, a P/E ratio of 64.37, a PEG ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 1-year low of $137.94 and a 1-year high of $247.11. The firm’s 50-day simple moving average is $165.42 and its 200-day simple moving average is $196.70.

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 outstanding shares. This buyback authorization authorizes the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

About Wix.com

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.