Ensign Peak Advisors Inc Makes New $1.56 Million Investment in Wix.com Ltd. (NASDAQ:WIX)

Ensign Peak Advisors Inc acquired a new position in shares of Wix.com Ltd. (NASDAQ:WIX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,250 shares of the information services provider’s stock, valued at approximately $1,555,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cullen Frost Bankers Inc. raised its position in shares of Wix.com by 9.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock valued at $130,000 after acquiring an additional 55 shares during the last quarter. Blue Trust Inc. raised its position in shares of Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after acquiring an additional 56 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 58 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock valued at $502,000 after acquiring an additional 63 shares during the last quarter. Finally, Vestcor Inc raised its position in shares of Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock valued at $183,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Jefferies Financial Group dropped their target price on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, April 7th. StockNews.com upgraded shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Barclays upped their target price on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $235.00 target price on shares of Wix.com in a research report on Wednesday, February 19th. Finally, Benchmark upped their price objective on shares of Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.74.

Wix.com Trading Down 3.5%

Shares of WIX opened at $182.91 on Friday. Wix.com Ltd. has a 12 month low of $134.74 and a 12 month high of $247.11. The firm’s 50 day moving average is $166.14 and its 200-day moving average is $196.45. The stock has a market capitalization of $10.26 billion, a PE ratio of 77.83, a P/E/G ratio of 2.83 and a beta of 1.56.

Wix.com declared that its Board of Directors has approved a stock buyback program on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management 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.