Counterpoint Mutual Funds LLC Grows Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Counterpoint Mutual Funds LLC grew its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 119.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,348 shares of the information services provider’s stock after buying an additional 3,452 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Wix.com were worth $1,362,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WIX. Newbridge Financial Services Group Inc. bought a new position in Wix.com in the 4th quarter worth $43,000. Avior Wealth Management LLC raised its stake in Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after buying an additional 89 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after acquiring an additional 58 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Wix.com in the fourth quarter worth $52,000. Finally, Advisors Asset Management Inc. increased its holdings 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 in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Down 0.1 %

NASDAQ:WIX opened at $172.59 on Monday. The business’s 50-day simple moving average is $216.76 and its two-hundred day simple moving average is $196.28. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The stock has a market cap of $9.46 billion, a PE ratio of 73.44, a P/E/G ratio of 2.83 and a beta of 1.64.

Wix.com declared that its board has authorized a stock buyback program on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on WIX shares. Scotiabank initiated coverage on shares of Wix.com in a research report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price objective on the stock. UBS Group set a $250.00 price target on shares of Wix.com in a research report on Wednesday, March 5th. Jefferies Financial Group upped their price objective on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Piper Sandler lifted their target price on Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price target on shares of Wix.com in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.74.

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.