Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in Wix.com Ltd. (NASDAQ:WIX) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,696 shares of the information services provider’s stock after selling 380 shares during the period. Rhumbline Advisers’ holdings in Wix.com were worth $2,728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock valued at $324,081,000 after acquiring an additional 1,266,202 shares during the last quarter. Durable Capital Partners LP purchased a new position in Wix.com in the 4th quarter valued at about $89,839,000. Whale Rock Capital Management LLC boosted its stake in shares of Wix.com by 55.1% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock worth $229,904,000 after purchasing an additional 380,800 shares during the last quarter. Senvest Management LLC boosted its stake in shares of Wix.com by 27.3% during the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock worth $305,260,000 after purchasing an additional 304,712 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Wix.com during the fourth quarter worth about $63,829,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Trading Down 3.7%

Shares of WIX opened at $149.10 on Monday. The firm has a market capitalization of $8.37 billion, a P/E ratio of 63.45, a price-to-earnings-growth ratio of 2.83 and a beta of 1.31. The stock’s fifty day simple moving average is $161.86 and its 200 day simple moving average is $191.97. Wix.com Ltd. has a twelve month low of $137.94 and a twelve month high of $247.11.

Wix.com declared that its board has approved a stock repurchase plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Wix.com from $245.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Barclays boosted their price target on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Citigroup decreased their price objective on Wix.com from $280.00 to $238.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Bank of America dropped their target price on Wix.com from $270.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, May 21st. Finally, Baird R W upgraded Wix.com from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 23rd. Four analysts have rated the stock with a hold rating, seventeen 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 a consensus price target of $226.68.

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.