Schroder Investment Management Group boosted its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1,383.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,871 shares of the information services provider's stock after acquiring an additional 116,456 shares during the period. Schroder Investment Management Group owned 0.23% of Wix.com worth $27,146,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DnB Asset Management AS boosted its position in Wix.com by 22.9% during the fourth quarter. DnB Asset Management AS now owns 9,399 shares of the information services provider's stock valued at $2,017,000 after acquiring an additional 1,751 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Wix.com by 71.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 51,869 shares of the information services provider's stock valued at $11,128,000 after purchasing an additional 21,583 shares during the period. Norges Bank bought a new stake in shares of Wix.com during the 4th quarter valued at about $63,829,000. Korea Investment CORP grew its stake in Wix.com by 0.5% during the fourth quarter. Korea Investment CORP now owns 20,528 shares of the information services provider's stock worth $4,404,000 after purchasing an additional 100 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Wix.com in the fourth quarter worth approximately $386,000. Institutional investors and hedge funds own 81.52% of the company's stock.
Wix.com Stock Down 1.8 %
NASDAQ:WIX traded down $2.65 during trading hours on Monday, hitting $147.36. 1,183,612 shares of the company traded hands, compared to its average volume of 633,756. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The company has a market cap of $8.27 billion, a PE ratio of 62.71, a PEG ratio of 2.83 and a beta of 1.65. The firm's 50-day simple moving average is $195.52 and its 200-day simple moving average is $197.13.
Wix.com declared that its board has authorized a stock repurchase program on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.
Analyst Ratings Changes
A number of research firms have issued reports on WIX. Benchmark increased their price target on Wix.com from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Royal Bank of Canada reissued an "outperform" rating and set a $245.00 target price on shares of Wix.com in a research note on Thursday, February 20th. Cantor Fitzgerald raised their price target on shares of Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a "buy" rating and issued a $235.00 target price on shares of Wix.com in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $242.16.
Check Out Our Latest Analysis 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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