Price T Rowe Associates Inc. MD grew its position in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,992 shares of the information services provider's stock after purchasing an additional 3,897 shares during the quarter. Price T Rowe Associates Inc. MD's holdings in Wix.com were worth $3,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of WIX. Wellington Management Group LLP raised its position 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 valued at $324,081,000 after buying an additional 1,266,202 shares during the last quarter. SG Americas Securities LLC increased 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 valued at $101,253,000 after acquiring an additional 400,265 shares during the last quarter. Senvest Management LLC increased its holdings in Wix.com by 27.3% in the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider's stock valued at $305,260,000 after acquiring an additional 304,712 shares during the last quarter. Norges Bank purchased a new stake in Wix.com in the 4th quarter worth $63,829,000. Finally, Alliancebernstein L.P. grew its position in shares of Wix.com by 1,382.1% during the fourth quarter. Alliancebernstein L.P. now owns 259,649 shares of the information services provider's stock valued at $55,708,000 after purchasing an additional 242,130 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
WIX has been the subject of a number of research reports. Scotiabank assumed coverage on Wix.com in a research note on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price target for the company. Oppenheimer reduced their price target on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Cfra Research lowered shares of Wix.com from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Bank of America boosted their target price on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Finally, Cantor Fitzgerald increased their price target on shares of Wix.com from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $237.74.
Check Out Our Latest Research Report on WIX
Wix.com Stock Down 0.3 %
Shares of NASDAQ WIX traded down $0.45 during midday trading on Friday, reaching $171.82. 722,704 shares of the company's stock traded hands, compared to its average volume of 659,894. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 73.11, a P/E/G ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a one year low of $120.78 and a one year high of $247.11. The stock's 50 day simple moving average is $166.56 and its 200-day simple moving average is $195.86.
Wix.com announced that its Board of Directors has authorized a share repurchase program on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors 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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