Cullen Frost Bankers Inc. Purchases 55 Shares of Wix.com Ltd. (NASDAQ:WIX)

Cullen Frost Bankers Inc. grew its position in Wix.com Ltd. (NASDAQ:WIX) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 608 shares of the information services provider’s stock after acquiring an additional 55 shares during the period. Cullen Frost Bankers Inc.’s holdings in Wix.com were worth $130,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Senvest Management LLC increased its holdings in shares of Wix.com by 4.7% during the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after acquiring an additional 50,482 shares during the last quarter. Whale Rock Capital Management LLC boosted its position in Wix.com by 31.6% during the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after purchasing an additional 165,810 shares during the period. SG Americas Securities LLC increased its holdings in shares of Wix.com by 558.5% in the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after purchasing an additional 400,265 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Wix.com by 3.2% in the third quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after purchasing an additional 14,340 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Wix.com by 23.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock worth $44,055,000 after buying an additional 49,500 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Stock Performance

Wix.com stock opened at $186.56 on Monday. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The stock has a market capitalization of $10.23 billion, a P/E ratio of 79.39, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. The stock has a fifty day moving average of $221.14 and a 200-day moving average of $196.02.

Wix.com declared that its board has approved a share repurchase program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Citigroup increased their target price on Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $235.00 price target on shares of Wix.com in a research note on Wednesday, February 19th. Bank of America increased their price objective on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, JMP Securities reissued a “market outperform” rating and set a $240.00 target price on shares of Wix.com in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $244.00.

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.