Franklin Resources Inc. lifted its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 226.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,073 shares of the information services provider's stock after purchasing an additional 106,930 shares during the period. Franklin Resources Inc. owned about 0.28% of Wix.com worth $33,056,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in Wix.com during the 4th quarter worth approximately $256,000. XTX Topco Ltd boosted its stake in shares of Wix.com by 348.6% in the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider's stock valued at $1,488,000 after buying an additional 6,919 shares in the last quarter. Bank of New York Mellon Corp raised its position in Wix.com by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider's stock worth $26,738,000 after acquiring an additional 11,048 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Wix.com by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider's stock worth $22,603,000 after purchasing an additional 5,286 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Wix.com in the fourth quarter valued at about $321,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on WIX shares. Barclays upped their price target on Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $245.00 price objective on shares of Wix.com in a research note on Thursday, February 20th. Piper Sandler increased their price target on shares of Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Morgan Stanley raised Wix.com from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $248.00 to $276.00 in a research note on Monday, January 13th. Finally, Citigroup boosted their price target on Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Four investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $242.53.
Check Out Our Latest Research Report on WIX
Wix.com Stock Performance
Shares of NASDAQ:WIX traded down $9.50 during midday trading on Thursday, hitting $155.48. 134,501 shares of the company's stock traded hands, compared to its average volume of 643,774. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11. The firm's fifty day moving average price is $188.70 and its two-hundred day moving average price is $196.50. The company has a market cap of $8.72 billion, a PE ratio of 66.96, a P/E/G ratio of 2.83 and a beta of 1.65.
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 shares. This repurchase authorization authorizes the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.
Wix.com Profile
(
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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