WCM Investment Management LLC Sells 30,122 Shares of Wix.com Ltd. $WIX

WCM Investment Management LLC lessened its holdings in Wix.com Ltd. (NASDAQ:WIX) by 20.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,521 shares of the information services provider’s stock after selling 30,122 shares during the period. WCM Investment Management LLC owned about 0.21% of Wix.com worth $21,595,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WIX. Geneos Wealth Management Inc. increased its holdings in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after purchasing an additional 215 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Wix.com by 47.8% during the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock valued at $65,000 after buying an additional 132 shares during the last quarter. Penserra Capital Management LLC bought a new stake in Wix.com during the second quarter worth $77,000. Tower Research Capital LLC TRC raised its position in Wix.com by 508.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 779 shares of the information services provider’s stock valued at $123,000 after buying an additional 651 shares during the last quarter. Finally, Aviso Financial Inc. purchased a new stake in Wix.com in the 2nd quarter valued at $133,000. Institutional investors own 81.52% of the company’s stock.

Analyst Ratings Changes

WIX has been the subject of several recent analyst reports. Evercore ISI reduced their target price on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Citigroup cut their price target on shares of Wix.com from $197.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Benchmark decreased their price objective on shares of Wix.com from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Citizens Jmp dropped their target price on shares of Wix.com from $185.00 to $125.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada set a $70.00 target price on Wix.com in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.43.

Wix.com Trading Down 4.3%

NASDAQ:WIX opened at $83.10 on Tuesday. Wix.com Ltd. has a 12 month low of $75.00 and a 12 month high of $239.73. The firm’s 50 day moving average is $96.43 and its 200 day moving average is $126.07. The stock has a market capitalization of $4.66 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 2.70 and a beta of 1.42.

Wix.com declared that its board has authorized a stock repurchase program on Wednesday, January 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information services provider to reacquire up to 40.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wix.com Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.