Bank of New York Mellon Corp Trims Stock Position in Wix.com Ltd. $WIX

Bank of New York Mellon Corp decreased its holdings in Wix.com Ltd. (NASDAQ:WIX) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,170 shares of the information services provider’s stock after selling 11,659 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.20% of Wix.com worth $17,933,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WIX. Northwestern Mutual Wealth Management Co. grew its holdings in 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 valued at $28,000 after purchasing an additional 66 shares during the period. Twin Tree Management LP purchased a new stake in shares of Wix.com during the 1st quarter valued at $29,000. Geneos Wealth Management Inc. increased its holdings in shares of Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of 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 buying an additional 132 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Wix.com by 28.4% in the 1st quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock worth $81,000 after buying an additional 109 shares during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WIX has been the subject of several research analyst reports. Piper Sandler upped their price target on Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Royal Bank Of Canada reissued an “outperform” rating and set a $210.00 target price on shares of Wix.com in a research report on Tuesday, August 19th. Citigroup restated an “outperform” rating on shares of Wix.com in a report on Tuesday, September 23rd. Cfra Research upgraded shares of Wix.com from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen lowered shares of Wix.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $215.37.

Wix.com Price Performance

Shares of Wix.com stock opened at $125.29 on Monday. Wix.com Ltd. has a 1-year low of $114.89 and a 1-year high of $247.11. The company has a market capitalization of $7.03 billion, a PE ratio of 44.59, a P/E/G ratio of 2.34 and a beta of 1.31. The business has a 50-day moving average of $150.52 and a 200-day moving average of $150.96.

Wix.com declared that its Board of Directors has initiated a share buyback plan on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.