CIBC Asset Management Inc Has $1.21 Million Position in Wix.com Ltd. (NASDAQ:WIX)

CIBC Asset Management Inc lifted its stake in Wix.com Ltd. (NASDAQ:WIX) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,621 shares of the information services provider’s stock after purchasing an additional 648 shares during the period. CIBC Asset Management Inc’s holdings in Wix.com were worth $1,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of Wix.com by 98.0% in the third 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 in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Wix.com during the 4th quarter worth $43,000. Avior Wealth Management LLC grew its holdings 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 worth $43,000 after acquiring an additional 89 shares during the period. 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 period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Wix.com by 113.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider’s stock worth $56,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Trading Down 2.7 %

WIX opened at $198.11 on Friday. The stock has a market capitalization of $10.86 billion, a P/E ratio of 84.30, a P/E/G ratio of 2.83 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. The firm’s fifty day simple moving average is $226.20 and its 200 day simple moving average is $193.56.

Analyst Ratings Changes

A number of analysts have commented on WIX shares. JMP Securities reaffirmed a “market outperform” rating and set a $240.00 target price on shares of Wix.com in a report on Tuesday, February 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 target price on shares of Wix.com in a report on Thursday. Bank of America lifted their target price on shares of Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley lifted their target price on shares of Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group lifted their target price on shares of Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.83.

Wix.com 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.