Cumberland Partners Ltd Sells 2,500 Shares of Wix.com Ltd. (NASDAQ:WIX)

Cumberland Partners Ltd decreased its position in Wix.com Ltd. (NASDAQ:WIX) by 13.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,500 shares of the information services provider’s stock after selling 2,500 shares during the quarter. Cumberland Partners Ltd’s holdings in Wix.com were worth $3,540,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its position in Wix.com by 98.0% in the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wix.com in the fourth quarter valued at $43,000. Avior Wealth Management LLC raised its holdings in shares of Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after buying an additional 89 shares during the last quarter. Global Retirement Partners LLC lifted its position in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after buying an additional 58 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Trading Down 4.7 %

Shares of Wix.com stock opened at $217.00 on Thursday. The stock’s fifty day simple moving average is $227.05 and its 200 day simple moving average is $192.90. The company has a market capitalization of $11.90 billion, a PE ratio of 135.63, a PEG ratio of 2.54 and a beta of 1.58. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald boosted their target price on shares of Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Morgan Stanley upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $248.00 to $276.00 in a research report on Monday, January 13th. Citigroup upped their price objective on Wix.com from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and issued a $240.00 target price on shares of Wix.com in a research note on Tuesday. Finally, Raymond James raised Wix.com from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.33.

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.