Ostrum Asset Management Trims Position in Wix.com Ltd. (NASDAQ:WIX)

Ostrum Asset Management reduced its position in Wix.com Ltd. (NASDAQ:WIX) by 21.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 435 shares of the information services provider’s stock after selling 122 shares during the quarter. Ostrum Asset Management’s holdings in Wix.com were worth $93,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its stake in Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock worth $130,000 after acquiring an additional 55 shares during the last quarter. Blue Trust Inc. grew its stake in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after buying an additional 56 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of 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 buying an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock worth $502,000 after acquiring an additional 63 shares during the last quarter. Finally, Vestcor Inc increased its stake in Wix.com by 8.0% in the fourth quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock valued at $183,000 after acquiring an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

NASDAQ:WIX opened at $146.50 on Tuesday. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The stock has a market cap of $8.22 billion, a PE ratio of 62.34, a P/E/G ratio of 2.83 and a beta of 1.65. The stock has a 50 day moving average price of $177.75 and a 200 day moving average price of $196.38.

Wix.com announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WIX. JPMorgan Chase & Co. decreased their target price on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Scotiabank started coverage on Wix.com in a research report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price target on the stock. Barclays boosted their price objective on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. StockNews.com raised shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company upgraded shares of Wix.com from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $169.00 to $176.00 in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and a consensus price target of $238.89.

Wix.com 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.