Wellington Management Group LLP Acquires 1,266,202 Shares of Wix.com Ltd. (NASDAQ:WIX)

Wellington Management Group LLP lifted its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 518.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,510,515 shares of the information services provider's stock after acquiring an additional 1,266,202 shares during the period. Wellington Management Group LLP owned 2.76% of Wix.com worth $324,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WIX. Cullen Frost Bankers Inc. increased its holdings in shares of Wix.com by 9.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock valued at $130,000 after acquiring an additional 55 shares in the last quarter. Blue Trust Inc. grew its position in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after purchasing an additional 56 shares during the period. Global Retirement Partners LLC increased its stake in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock valued at $47,000 after purchasing an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Wix.com by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock worth $502,000 after buying an additional 63 shares during the last quarter. Finally, Vestcor Inc lifted its stake in shares of Wix.com by 8.0% in the fourth quarter. Vestcor Inc now owns 853 shares of the information services provider's stock valued at $183,000 after buying an additional 63 shares in the last quarter. 81.52% of the stock is owned by institutional investors.

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Wix.com Price Performance

Shares of WIX traded down $9.93 during mid-day trading on Thursday, hitting $155.94. The stock had a trading volume of 976,017 shares, compared to its average volume of 625,914. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The business has a fifty day moving average price of $200.57 and a 200-day moving average price of $197.03. The firm has a market cap of $8.75 billion, a P/E ratio of 66.36, a PEG ratio of 2.83 and a beta of 1.65.

Wix.com announced that its board has approved a stock buyback plan on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on WIX. JPMorgan Chase & Co. decreased their target price on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Scotiabank assumed coverage on Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price objective for the company. Morgan Stanley upgraded Wix.com from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $248.00 to $276.00 in a report on Monday, January 13th. JMP Securities reiterated a "market outperform" rating and set a $240.00 price target on shares of Wix.com in a report on Tuesday, February 18th. Finally, Citigroup raised their price objective on Wix.com from $275.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. One equities 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $243.74.

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.