Alliancebernstein L.P. raised its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1,382.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 259,649 shares of the information services provider's stock after purchasing an additional 242,130 shares during the quarter. Alliancebernstein L.P. owned 0.47% of Wix.com worth $55,708,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock worth $324,081,000 after purchasing an additional 1,266,202 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake in Wix.com by 31.6% during the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider's stock valued at $115,475,000 after purchasing an additional 165,810 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock worth $101,253,000 after buying an additional 400,265 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Wix.com by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider's stock worth $76,848,000 after buying an additional 14,340 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Wix.com by 4.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 314,039 shares of the information services provider's stock worth $67,377,000 after purchasing an additional 12,531 shares during the period. Institutional investors and hedge funds own 81.52% of the company's stock.
Wix.com Stock Down 4.0 %
Shares of NASDAQ WIX traded down $6.67 during midday trading on Thursday, hitting $158.30. 81,569 shares of the company's stock were exchanged, compared to its average volume of 643,339. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The company's 50 day moving average price is $188.70 and its 200 day moving average price is $196.50. The firm has a market capitalization of $8.88 billion, a PE ratio of 67.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.
Wix.com declared that its Board of Directors has initiated a share repurchase program on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Citigroup boosted their price objective on shares of Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. UBS Group set a $250.00 target price on shares of Wix.com in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Wix.com from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $242.53.
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About Wix.com
(
Free Report)
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.
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