Counterpoint Mutual Funds LLC Purchases 3,452 Shares of Wix.com Ltd. (NASDAQ:WIX)

Counterpoint Mutual Funds LLC increased its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 119.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,348 shares of the information services provider’s stock after purchasing an additional 3,452 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Wix.com were worth $1,362,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Corient Private Wealth LLC increased its position in shares of Wix.com by 6.5% during the 4th quarter. Corient Private Wealth LLC now owns 4,319 shares of the information services provider’s stock valued at $927,000 after purchasing an additional 264 shares during the last quarter. Natixis Advisors LLC increased its holdings in Wix.com by 17.5% during the fourth quarter. Natixis Advisors LLC now owns 16,937 shares of the information services provider’s stock worth $3,634,000 after buying an additional 2,523 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in Wix.com in the fourth quarter worth about $226,000. Commonwealth Equity Services LLC boosted its stake in Wix.com by 3.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,815 shares of the information services provider’s stock valued at $1,033,000 after acquiring an additional 139 shares during the last quarter. Finally, Vestcor Inc grew its position in shares of Wix.com by 8.0% during the 4th 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 period. 81.52% of the stock is owned by institutional investors.

Wix.com Trading Down 0.1 %

Shares of Wix.com stock opened at $172.59 on Monday. The firm has a market capitalization of $9.46 billion, a PE ratio of 73.44, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The business’s 50-day moving average price is $216.76 and its 200-day moving average price is $196.28.

Wix.com declared that its board has approved a stock buyback program 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 buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on WIX shares. Scotiabank began coverage on shares of Wix.com in a report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $245.00 price target on shares of Wix.com in a research note on Thursday, February 20th. UBS Group set a $250.00 price objective on shares of Wix.com in a research note on Wednesday, March 5th. B. Riley boosted their target price on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, StockNews.com raised Wix.com from a “buy” rating to a “strong-buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.