Man Group plc Acquires 9,706 Shares of Wix.com Ltd. (NASDAQ:WIX)

Man Group plc raised its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 643,651 shares of the information services provider's stock after buying an additional 9,706 shares during the period. Man Group plc owned approximately 1.17% of Wix.com worth $138,095,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new position in Wix.com during the fourth quarter worth about $43,000. Avior Wealth Management LLC grew its holdings in Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after acquiring an additional 89 shares during the period. Global Retirement Partners LLC grew its holdings in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after acquiring an additional 58 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Wix.com in the 4th quarter valued at $52,000. Finally, Blue Trust Inc. boosted its stake in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after purchasing an additional 56 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Stock Down 1.2%

WIX stock traded down $2.21 during trading on Monday, hitting $180.55. 200,465 shares of the company's stock traded hands, compared to its average volume of 655,286. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 76.83, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56. The stock has a fifty day moving average price of $166.28 and a two-hundred day moving average price of $196.95. Wix.com Ltd. has a 52 week low of $137.94 and a 52 week high of $247.11.

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 shares. This buyback authorization allows the information services provider to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

WIX has been the topic of several analyst reports. Bank of America boosted their price target on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a "buy" rating and issued a $235.00 price objective on shares of Wix.com in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price target on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Morgan Stanley decreased their price target on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $245.00 price objective on shares of Wix.com in a research report on Thursday, February 20th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $236.95.

Wix.com Company 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.