Nuveen Asset Management LLC Acquires 8,422 Shares of Wix.com Ltd. (NASDAQ:WIX)

Nuveen Asset Management LLC lifted its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,460 shares of the information services provider's stock after acquiring an additional 8,422 shares during the period. Nuveen Asset Management LLC owned 0.26% of Wix.com worth $30,565,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC lifted its position in Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after buying an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Wix.com in the fourth quarter worth $43,000. Global Retirement Partners LLC lifted its position in Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after buying an additional 58 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Wix.com in the fourth quarter worth $52,000. Finally, Blue Trust Inc. lifted its position in Wix.com by 28.3% in the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after buying an additional 56 shares during the last quarter. Institutional investors own 81.52% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $250.00 price objective on shares of Wix.com in a research note on Wednesday. Cantor Fitzgerald raised their price objective on shares of Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Oppenheimer decreased their price objective on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. UBS Group set a $250.00 target price on Wix.com in a research report on Wednesday, March 5th. Finally, Benchmark decreased their target price on Wix.com from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Monday. Five research 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 company. Based on data from MarketBeat.com, Wix.com has an average rating of "Moderate Buy" and an average price target of $235.63.

Wix.com Trading Down 16.2%

Shares of WIX stock opened at $152.34 on Thursday. The business's fifty day simple moving average is $166.16 and its 200-day simple moving average is $196.65. The company has a market cap of $8.55 billion, a PE ratio of 64.83, a PEG ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 12-month low of $137.94 and a 12-month high of $247.11.

Wix.com declared that its Board of Directors has initiated a share repurchase program 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 programs are typically an indication that the company's management believes its stock is undervalued.

About Wix.com

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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