Zurcher Kantonalbank Zurich Cantonalbank Has $6.98 Million Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 31.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,512 shares of the information services provider’s stock after buying an additional 7,774 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wix.com were worth $6,975,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WIX. Advisors Asset Management Inc. lifted its position in Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 130 shares during the period. Avior Wealth Management LLC lifted its position 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 valued at $43,000 after purchasing an additional 89 shares during the period. 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 lifted its position in 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 purchasing an additional 58 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Wix.com during the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Down 1.2 %

NASDAQ:WIX opened at $172.83 on Friday. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11. The business has a 50 day moving average price of $217.76 and a two-hundred day moving average price of $195.81. The company has a market cap of $9.47 billion, a P/E ratio of 73.54, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64.

Wix.com declared that its board has authorized a share repurchase program on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WIX. Benchmark upped their target price 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. Jefferies Financial Group upped their price target on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Barclays upped their price target on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Robert W. Baird upped their price target on Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Finally, B. Riley upped their price target on Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.74.

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.