Arrowstreet Capital Limited Partnership Grows Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 0.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,009,909 shares of the information services provider’s stock after acquiring an additional 701 shares during the period. Arrowstreet Capital Limited Partnership owned 1.84% of Wix.com worth $216,676,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WIX. Advisors Asset Management Inc. raised its holdings in Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of 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 buying an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wix.com in the 4th quarter valued at approximately $43,000. Global Retirement Partners LLC grew its holdings in Wix.com by 36.0% during the fourth 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. Finally, SBI Securities Co. Ltd. acquired a new position in Wix.com during the fourth quarter worth $52,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on WIX. Needham & Company LLC reissued a “buy” rating and set a $235.00 price objective on shares of Wix.com in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price target on Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Scotiabank started coverage on Wix.com in a report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 target price on shares of Wix.com in a report on Thursday, February 20th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $240.00 price target on shares of Wix.com in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $243.74.

Wix.com Trading Down 4.3 %

Shares of Wix.com stock opened at $166.36 on Monday. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 70.79, a PEG ratio of 2.83 and a beta of 1.64. The company’s fifty day simple moving average is $204.99 and its 200-day simple moving average is $197.13.

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 purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are 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.