United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires New Holdings in Wix.com Ltd. (NASDAQ:WIX)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Wix.com Ltd. (NASDAQ:WIX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the information services provider’s stock, valued at approximately $386,000.

Several other large investors have also recently modified their holdings of WIX. Newbridge Financial Services Group Inc. acquired a new position in Wix.com during the 4th quarter valued at about $43,000. Avior Wealth Management LLC lifted its stake 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 acquiring an additional 89 shares during the period. Global Retirement Partners LLC lifted its position in Wix.com by 36.0% during the fourth 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. SBI Securities Co. Ltd. acquired a new position in shares of Wix.com in the 4th quarter valued at about $52,000. Finally, Advisors Asset Management Inc. boosted its position in Wix.com by 112.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 2.7 %

WIX stock opened at $168.63 on Thursday. The business has a 50 day moving average price of $207.83 and a 200 day moving average price of $196.61. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 71.76, a PEG ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11.

Wix.com announced that its board has approved a share buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald increased their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Piper Sandler upped their target price on shares of Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Citigroup increased their price target on Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Wells Fargo & Company reduced their target price on shares of Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Finally, Benchmark upped their price objective on Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and a consensus target price 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.