Nuveen Asset Management LLC Has $30.57 Million Stake in Wix.com Ltd. (NASDAQ:WIX)

Nuveen Asset Management LLC raised its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 6.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 142,460 shares of the information services provider's stock after buying an additional 8,422 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.26% of Wix.com worth $30,565,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in shares of Wix.com during the fourth quarter valued at about $321,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Wix.com by 113.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider's stock valued at $56,000 after purchasing an additional 139 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Wix.com by 558.5% during the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock valued at $101,253,000 after purchasing an additional 400,265 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after purchasing an additional 89 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Wix.com by 1,439.4% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,545 shares of the information services provider's stock valued at $2,262,000 after purchasing an additional 9,860 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Trading Up 0.6%

NASDAQ:WIX traded up $0.90 on Tuesday, hitting $152.16. 1,539,361 shares of the company's stock traded hands, compared to its average volume of 654,802. Wix.com Ltd. has a 1 year low of $137.94 and a 1 year high of $247.11. The firm has a 50-day moving average price of $164.66 and a 200-day moving average price of $196.41. The company has a market cap of $8.54 billion, a PE ratio of 64.75, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56.

Wix.com declared that its board has authorized 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 reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently issued reports on WIX. Jefferies Financial Group lowered their target price on Wix.com from $265.00 to $230.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Robert W. Baird raised Wix.com from a "neutral" rating to an "outperform" rating and lowered their target price for the stock from $215.00 to $190.00 in a report on Friday. Citigroup lowered their target price on Wix.com from $280.00 to $238.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Bank of America lowered their target price on Wix.com from $270.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Finally, Barclays lifted their target price on Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $226.16.

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.