Loomis Sayles & Co. L P Sells 5,678 Shares of Wix.com Ltd. (NASDAQ:WIX)

Loomis Sayles & Co. L P lowered its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 3.0% during the fourth quarter, Holdings Channel reports. The fund owned 183,068 shares of the information services provider’s stock after selling 5,678 shares during the period. Loomis Sayles & Co. L P’s holdings in Wix.com were worth $39,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 130 shares during the period. Avior Wealth Management LLC raised its holdings in Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Wix.com during the 4th quarter valued at about $43,000. Global Retirement Partners LLC boosted its stake 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 valued at $47,000 after purchasing an additional 58 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Wix.com during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analyst Ratings Changes

WIX has been the topic of several analyst reports. StockNews.com upgraded shares of Wix.com from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Scotiabank assumed coverage on Wix.com in a research note on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 price target on the stock. Cantor Fitzgerald lifted their price objective on Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Citigroup increased their target price on Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Jefferies Financial Group boosted their target price on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $243.74.

Wix.com Trading Up 3.1 %

NASDAQ:WIX opened at $173.88 on Friday. The firm has a fifty day simple moving average of $206.48 and a 200 day simple moving average of $196.46. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The stock has a market capitalization of $9.53 billion, a PE ratio of 73.99, a P/E/G ratio of 2.83 and a beta of 1.64.

Wix.com announced that its Board of Directors has initiated a share buyback plan on Thursday, February 27th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are 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.