Norges Bank Takes Position in Wix.com Ltd. (NASDAQ:WIX)

Norges Bank bought a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 297,502 shares of the information services provider's stock, valued at approximately $63,829,000. Norges Bank owned 0.54% of Wix.com as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WIX. SG Americas Securities LLC lifted 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 valued at $101,253,000 after acquiring an additional 400,265 shares during the period. Whale Rock Capital Management LLC raised its holdings in shares of 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 last quarter. Allspring Global Investments Holdings LLC lifted its position in Wix.com by 90.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider's stock valued at $39,859,000 after purchasing an additional 87,327 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Wix.com in the third quarter valued at $10,523,000. Finally, Proficio Capital Partners LLC acquired a new stake in Wix.com during the 4th quarter worth about $11,508,000. Hedge funds and other institutional investors own 81.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WIX shares. UBS Group set a $250.00 price objective on Wix.com in a report on Wednesday, March 5th. Barclays upped their price objective on Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Scotiabank started coverage on shares of Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 target price for the company. Morgan Stanley raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $248.00 to $276.00 in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $243.74.

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Wix.com Trading Down 6.0 %

Shares of NASDAQ WIX opened at $155.94 on Friday. The company has a 50-day moving average of $198.96 and a 200 day moving average of $196.75. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The stock has a market cap of $8.75 billion, a PE ratio of 66.36, a P/E/G ratio of 2.83 and a beta of 1.65.

Wix.com declared that its Board of Directors has approved a share buyback program on Thursday, February 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Wix.com Profile

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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