Jackson Square Partners LLC decreased its holdings in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 25.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,320 shares of the information services provider's stock after selling 38,128 shares during the quarter. Wix.com makes up about 2.6% of Jackson Square Partners LLC's holdings, making the stock its 13th biggest position. Jackson Square Partners LLC owned approximately 0.21% of Wix.com worth $24,527,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. lifted its stake in shares of Wix.com by 9.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock valued at $130,000 after buying an additional 55 shares during the period. Blue Trust Inc. increased its holdings 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 buying an additional 56 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after acquiring an additional 58 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock valued at $502,000 after acquiring an additional 63 shares in the last quarter. Finally, Vestcor Inc increased its stake in 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 acquiring an additional 63 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
WIX has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. reduced their price target on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Scotiabank began coverage on shares of Wix.com in a research report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 price objective for the company. Jefferies Financial Group raised their price target on shares of Wix.com from $225.00 to $260.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, Citigroup upped their price objective on Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wix.com presently has an average rating of "Moderate Buy" and a consensus target price of $243.74.
Read Our Latest Stock Report on Wix.com
Wix.com Price Performance
WIX traded down $7.52 during trading on Friday, hitting $166.36. The stock had a trading volume of 734,495 shares, compared to its average volume of 619,317. The company has a 50 day moving average price of $204.99 and a 200-day moving average price of $196.82. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of 70.79, a P/E/G ratio of 2.83 and a beta of 1.64.
Wix.com announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is 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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