Oppenheimer & Co. Inc. Buys Shares of 10,825 Wix.com Ltd. $WIX

Oppenheimer & Co. Inc. purchased a new position in Wix.com Ltd. (NASDAQ:WIX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,825 shares of the information services provider’s stock, valued at approximately $1,923,000.

Several other large investors also recently modified their holdings of WIX. AQR Capital Management LLC lifted its holdings in Wix.com by 36.6% in the first quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock valued at $266,000 after acquiring an additional 436 shares during the period. Woodline Partners LP grew its stake in shares of Wix.com by 9.7% during the 1st quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock valued at $374,000 after purchasing an additional 202 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 215 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Wix.com by 47.8% in the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after purchasing an additional 132 shares during the period. Finally, Aberdeen Group plc lifted its stake in shares of Wix.com by 24.8% in the 2nd quarter. Aberdeen Group plc now owns 4,991 shares of the information services provider’s stock worth $791,000 after purchasing an additional 993 shares during the period. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 2.4%

NASDAQ:WIX opened at $69.23 on Friday. The business’s 50-day simple moving average is $92.29 and its two-hundred day simple moving average is $121.53. Wix.com Ltd. has a 52 week low of $67.66 and a 52 week high of $239.73. The stock has a market cap of $3.88 billion, a PE ratio of 29.59, a P/E/G ratio of 2.20 and a beta of 1.42.

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Cantor Fitzgerald boosted their target price on shares of Wix.com from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. Wells Fargo & Company dropped their price target on shares of Wix.com from $184.00 to $176.00 and set an “overweight” rating on the stock in a research note on Friday, December 19th. Morgan Stanley reduced their price objective on Wix.com from $181.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. Evercore decreased their target price on Wix.com from $250.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Finally, Scotiabank lowered their target price on Wix.com from $255.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.43.

Wix.com Company 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.