Deutsche Bank AG Sells 6,488 Shares of Wix.com Ltd. (NASDAQ:WIX)

Deutsche Bank AG decreased its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,153 shares of the information services provider’s stock after selling 6,488 shares during the period. Deutsche Bank AG’s holdings in Wix.com were worth $23,633,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WIX. Newbridge Financial Services Group Inc. bought a new stake in shares of Wix.com during the fourth quarter worth $43,000. Avior Wealth Management LLC increased its position in Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after purchasing an additional 89 shares during the period. Global Retirement Partners LLC increased its position in Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after purchasing an additional 58 shares during the period. SBI Securities Co. Ltd. bought a new stake in Wix.com during the 4th quarter worth about $52,000. Finally, Blue Trust Inc. lifted its position in Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56 shares during the period. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

NASDAQ:WIX opened at $189.61 on Thursday. The business’s 50-day simple moving average is $165.83 and its 200-day simple moving average is $196.37. Wix.com Ltd. has a fifty-two week low of $134.74 and a fifty-two week high of $247.11. The stock has a market capitalization of $10.64 billion, a PE ratio of 80.69, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56.

Wix.com declared that its Board of Directors has authorized a share buyback plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently commented on WIX shares. Needham & Company LLC reiterated a “buy” rating and set a $235.00 price target on shares of Wix.com in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Wix.com in a research note on Thursday, February 20th. Oppenheimer dropped their target price on shares of Wix.com from $250.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. JMP Securities reissued a “market outperform” rating and issued a $240.00 price target on shares of Wix.com in a research note on Tuesday, February 18th. Finally, Bank of America lifted their price objective on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.74.

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.