Ameriprise Financial Inc. Has $6.60 Million Holdings in Wix.com Ltd. (NASDAQ:WIX)

Ameriprise Financial Inc. grew its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 63.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,746 shares of the information services provider's stock after buying an additional 11,966 shares during the quarter. Ameriprise Financial Inc. owned 0.06% of Wix.com worth $6,597,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider's stock worth $324,081,000 after buying an additional 1,266,202 shares in the last quarter. Senvest Management LLC lifted its position in Wix.com by 27.3% during the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider's stock valued at $305,260,000 after buying an additional 304,712 shares in the last quarter. Renaissance Technologies LLC lifted its position in Wix.com by 21.0% during the fourth quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider's stock valued at $201,151,000 after buying an additional 162,400 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Wix.com by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 481,535 shares of the information services provider's stock worth $102,926,000 after purchasing an additional 19,633 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock worth $101,253,000 after buying an additional 400,265 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Analyst Ratings Changes

WIX has been the topic of several recent analyst reports. Scotiabank initiated coverage on shares of Wix.com in a report on Wednesday, March 5th. They issued a "sector outperform" rating and a $250.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Wix.com from $176.00 to $173.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. Oppenheimer reduced their price target 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. Robert W. Baird upgraded shares of Wix.com from a "neutral" rating to an "outperform" rating and reduced their price objective for the company from $215.00 to $190.00 in a research report on Friday, May 23rd. Finally, UBS Group reduced their price objective on shares of Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.16.

Wix.com Stock Up 2.5%

Shares of WIX traded up $3.73 during mid-day trading on Wednesday, hitting $155.89. 54,229 shares of the company's stock were exchanged, compared to its average volume of 652,785. The firm has a fifty day moving average of $164.66 and a two-hundred day moving average of $196.41. Wix.com Ltd. has a twelve month low of $137.94 and a twelve month high of $247.11. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 66.17, a P/E/G ratio of 2.83 and a beta of 1.56.

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

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.