Neuberger Berman Group LLC Sells 3,597 Shares of Wix.com Ltd. (NASDAQ:WIX)

Neuberger Berman Group LLC trimmed its position in Wix.com Ltd. (NASDAQ:WIX) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 355,516 shares of the information services provider’s stock after selling 3,597 shares during the quarter. Neuberger Berman Group LLC’s holdings in Wix.com were worth $76,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Wix.com by 518.3% in the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after buying an additional 1,266,202 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after buying an additional 400,265 shares in the last quarter. Norges Bank purchased a new position in shares of Wix.com during the 4th quarter worth about $63,829,000. Alliancebernstein L.P. boosted its stake in shares of Wix.com by 1,382.1% during the fourth quarter. Alliancebernstein L.P. now owns 259,649 shares of the information services provider’s stock valued at $55,708,000 after purchasing an additional 242,130 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Wix.com by 21.0% in the 4th quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider’s stock worth $201,151,000 after buying an additional 162,400 shares during the period. Institutional investors own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

WIX has been the topic of a number of analyst reports. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $248.00 to $276.00 in a research report on Monday, January 13th. Bank of America increased their target price on Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Raymond James upgraded shares of Wix.com from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $225.00 to $300.00 in a report on Tuesday, January 21st. Cantor Fitzgerald lifted their target price on shares of Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price objective on shares of Wix.com in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $242.53.

Wix.com Stock Performance

NASDAQ:WIX opened at $164.97 on Thursday. The stock has a 50-day simple moving average of $188.70 and a 200 day simple moving average of $196.50. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 70.20, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.

Wix.com announced that its Board of Directors has authorized a stock repurchase plan 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 buy up to 1.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors 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.