Invesco Ltd. Has $12.43 Million Holdings in Wix.com Ltd. (NASDAQ:WIX)

Invesco Ltd. raised its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 66.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,932 shares of the information services provider's stock after acquiring an additional 23,037 shares during the quarter. Invesco Ltd. owned approximately 0.11% of Wix.com worth $12,429,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake 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 buying an additional 1,266,202 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Wix.com by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 481,535 shares of the information services provider's stock valued at $102,926,000 after purchasing an additional 19,633 shares during the period. SG Americas Securities LLC grew its stake in Wix.com by 558.5% during 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. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Wix.com by 4.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 314,039 shares of the information services provider's stock valued at $67,377,000 after buying an additional 12,531 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Wix.com in the fourth quarter valued at approximately $63,829,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WIX shares. Scotiabank began coverage on shares of Wix.com in a research note on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 target price for the company. Piper Sandler upped their price objective on Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Barclays boosted their target price on shares of Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Raymond James raised Wix.com from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $240.00 price target on shares of Wix.com in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $238.89.

Wix.com Price Performance

Shares of NASDAQ:WIX traded up $6.37 during midday trading on Thursday, reaching $165.23. The company had a trading volume of 663,997 shares, compared to its average volume of 654,965. The stock has a market capitalization of $9.27 billion, a P/E ratio of 70.31, a PEG ratio of 2.83 and a beta of 1.65. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The stock's fifty day moving average price is $175.02 and its 200-day moving average price is $195.83.

Wix.com declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

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.