Russell Investments Group Ltd. grew its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 39.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,907 shares of the information services provider's stock after purchasing an additional 45,535 shares during the period. Russell Investments Group Ltd. owned approximately 0.29% of Wix.com worth $34,520,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings 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 valued at $324,081,000 after purchasing an additional 1,266,202 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Wix.com by 558.5% during 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 buying an additional 400,265 shares during the period. Norges Bank purchased a new position in shares of Wix.com during the fourth quarter valued at approximately $63,829,000. Alliancebernstein L.P. grew its stake in shares of Wix.com by 1,382.1% during the fourth quarter. Alliancebernstein L.P. now owns 259,649 shares of the information services provider's stock valued at $55,708,000 after buying an additional 242,130 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Wix.com by 1,383.9% in the fourth quarter. Schroder Investment Management Group now owns 124,871 shares of the information services provider's stock worth $27,146,000 after buying an additional 116,456 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.
Wix.com Stock Performance
WIX stock traded up $2.82 during trading on Friday, reaching $158.50. 823,838 shares of the company traded hands, compared to its average volume of 647,842. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of 67.45, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The business has a 50 day simple moving average of $185.82 and a 200 day simple moving average of $196.54. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11.
Wix.com declared that its board has approved a stock repurchase program on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Citigroup boosted their price objective on Wix.com from $275.00 to $280.00 and gave the company a "buy" rating in a report on Thursday, February 20th. 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $245.00 price target on shares of Wix.com in a research note on Thursday, February 20th. Wells Fargo & Company upgraded shares of Wix.com from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $169.00 to $176.00 in a report on Tuesday, April 8th. Finally, JMP Securities restated a "market outperform" rating and issued a $240.00 target price on shares of Wix.com in a research note on Tuesday, February 18th. Four research analysts have rated the stock with 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 company currently has a consensus rating of "Moderate Buy" and a consensus target price of $242.53.
View Our Latest Stock Report on Wix.com
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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