Advisory Services Network LLC Invests $550,000 in Wix.com Ltd. (NASDAQ:WIX)

Advisory Services Network LLC acquired a new stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,562 shares of the information services provider's stock, valued at approximately $550,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings 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 last quarter. Tidal Investments LLC raised its stake in Wix.com by 3.4% during the third quarter. Tidal Investments LLC now owns 34,646 shares of the information services provider's stock worth $5,792,000 after purchasing an additional 1,127 shares during the period. Franklin Resources Inc. boosted its holdings in Wix.com by 8.9% in the 3rd quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider's stock valued at $7,673,000 after purchasing an additional 3,864 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Wix.com by 962.7% during the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider's stock worth $116,000 after buying an additional 491 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Wix.com during the 4th quarter valued at approximately $1,042,000. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wix.com Stock Down 4.4 %

NASDAQ:WIX traded down $7.07 during trading hours on Monday, reaching $152.70. 112,700 shares of the company's stock were exchanged, compared to its average volume of 649,139. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 64.98, a P/E/G ratio of 2.83 and a beta of 1.65. The company has a 50-day moving average of $179.43 and a 200 day moving average of $196.47.

Wix.com declared that its Board of Directors has authorized a stock repurchase 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 purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company upgraded Wix.com from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $169.00 to $176.00 in a research report on Tuesday, April 8th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. UBS Group set a $250.00 price target on shares of Wix.com in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $235.00 price objective on shares of Wix.com in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price target on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $238.89.

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.