Oppenheimer & Co. Inc. Takes $1.92 Million Position in Wix.com Ltd. $WIX

Oppenheimer & Co. Inc. purchased a new position in Wix.com Ltd. (NASDAQ:WIX) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 10,825 shares of the information services provider’s stock, valued at approximately $1,923,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WIX. Westside Investment Management Inc. boosted its stake in Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after buying an additional 77 shares during the period. Blue Trust Inc. grew its stake in Wix.com by 47.8% in the second 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. Asset Management One Co. Ltd. increased its stake in shares of Wix.com by 0.8% during the third quarter. Asset Management One Co. Ltd. now owns 19,837 shares of the information services provider’s stock valued at $3,524,000 after buying an additional 154 shares during the period. TD Asset Management Inc increased its position in Wix.com by 0.8% during the 2nd quarter. TD Asset Management Inc now owns 21,218 shares of the information services provider’s stock valued at $3,362,000 after purchasing an additional 161 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of Wix.com by 13.4% during the second quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider’s stock valued at $235,000 after purchasing an additional 175 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of analyst reports. Bank of America lowered their target price on Wix.com from $210.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Benchmark dropped their price objective on Wix.com from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wix.com in a report on Wednesday, January 21st. Evercore lowered their price target on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Finally, Raymond James Financial set a $74.00 price objective on shares of Wix.com in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and a consensus target price of $162.43.

Wix.com Stock Performance

Shares of WIX stock opened at $69.23 on Friday. Wix.com Ltd. has a fifty-two week low of $67.66 and a fifty-two week high of $239.73. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.20 and a beta of 1.42. The stock’s 50-day simple moving average is $92.29 and its 200-day simple moving average is $121.53.

Wix.com announced that its board has approved a stock buyback program on Wednesday, January 28th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information services provider to purchase up to 40.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.