Franklin Resources Inc. Purchases 3,864 Shares of Wix.com Ltd. (NASDAQ:WIX)

Franklin Resources Inc. raised its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,143 shares of the information services provider's stock after purchasing an additional 3,864 shares during the quarter. Franklin Resources Inc. owned 0.09% of Wix.com worth $7,673,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock worth $41,000 after buying an additional 130 shares during the period. CWM LLC grew its position in shares of Wix.com by 19.0% in the 3rd quarter. CWM LLC now owns 632 shares of the information services provider's stock valued at $106,000 after buying an additional 101 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider's stock valued at $124,000 after buying an additional 124 shares during the period. Finally, Metis Global Partners LLC bought a new position in shares of Wix.com during the third quarter worth about $200,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Stock Down 0.2 %

WIX stock traded down $0.37 during mid-day trading on Monday, reaching $221.00. 631,752 shares of the company traded hands, compared to its average volume of 561,478. The firm's 50 day moving average price is $194.80 and its 200 day moving average price is $172.94. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 138.13, a P/E/G ratio of 4.22 and a beta of 1.55. Wix.com Ltd. has a fifty-two week low of $114.18 and a fifty-two week high of $229.79.

Analyst Ratings Changes

A number of research firms have weighed in on WIX. Benchmark increased their target price on shares of Wix.com from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. B. Riley increased their price objective on shares of Wix.com from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Barclays boosted their target price on shares of Wix.com from $184.00 to $236.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a "buy" rating and set a $200.00 price target on shares of Wix.com in a report on Wednesday, November 20th. Finally, Evercore ISI raised Wix.com to a "strong-buy" rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wix.com presently has an average rating of "Moderate Buy" and a consensus price target of $210.71.

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.