Wix.com Ltd. $WIX Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 11.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,734 shares of the information services provider’s stock after selling 20,645 shares during the quarter. Russell Investments Group Ltd.’s holdings in Wix.com were worth $26,542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of Wix.com by 63.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after acquiring an additional 66 shares in the last quarter. Twin Tree Management LP purchased a new position in Wix.com in the first quarter valued at $29,000. Geneos Wealth Management Inc. boosted its holdings in Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 215 shares during the period. Blue Trust Inc. grew its stake in Wix.com by 47.8% during the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after purchasing an additional 132 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Wix.com during the 2nd quarter worth about $77,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Up 0.1%

Shares of Wix.com stock opened at $95.90 on Friday. Wix.com Ltd. has a 52 week low of $92.23 and a 52 week high of $247.11. The firm’s 50 day moving average is $136.57 and its two-hundred day moving average is $146.29. The firm has a market capitalization of $5.38 billion, a P/E ratio of 40.98, a P/E/G ratio of 1.82 and a beta of 1.31.

Wix.com announced that its Board of Directors has approved a stock buyback program on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Wix.com from $189.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Benchmark reduced their target price on shares of Wix.com from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Needham & Company LLC decreased their price target on shares of Wix.com from $200.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Wall Street Zen downgraded shares of Wix.com from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Finally, Piper Sandler raised their price objective on shares of Wix.com from $206.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.81.

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.