MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stake in Wix.com Ltd. (NASDAQ:WIX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in Wix.com Ltd. (NASDAQ:WIX) by 26.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 116,388 shares of the information services provider’s stock after selling 40,893 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.21% of Wix.com worth $24,972,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in Wix.com in the 4th quarter valued at $256,000. Bank of New York Mellon Corp raised its holdings in Wix.com by 9.7% in the 4th quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider’s stock valued at $26,738,000 after acquiring an additional 11,048 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Wix.com by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider’s stock worth $22,603,000 after buying an additional 5,286 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Wix.com during the 4th quarter worth $321,000. Finally, Van ECK Associates Corp increased its holdings in shares of Wix.com by 0.6% during the 4th quarter. Van ECK Associates Corp now owns 16,946 shares of the information services provider’s stock worth $3,636,000 after buying an additional 107 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Price Performance

NASDAQ:WIX opened at $189.61 on Thursday. The firm has a 50-day moving average of $165.83 and a two-hundred day moving average of $196.37. The stock has a market cap of $10.64 billion, a P/E ratio of 80.69, a PEG ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 1-year low of $134.74 and a 1-year high of $247.11.

Wix.com declared that its board has authorized a share repurchase plan on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WIX shares. Oppenheimer dropped their price objective on Wix.com from $250.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. UBS Group set a $250.00 price objective on Wix.com in a report on Wednesday, March 5th. Citigroup dropped their price objective on Wix.com from $280.00 to $238.00 and set a “buy” rating for the company in a report on Friday, April 25th. Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Finally, Cfra Research downgraded Wix.com from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 15th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.74.

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.