Wix.com Ltd. (NASDAQ:WIX) Shares Sold by Jackson Square Partners LLC

Jackson Square Partners LLC decreased its stake in Wix.com Ltd. (NASDAQ:WIX) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,320 shares of the information services provider’s stock after selling 38,128 shares during the period. Wix.com makes up 2.6% of Jackson Square Partners LLC’s portfolio, making the stock its 13th biggest position. Jackson Square Partners LLC owned 0.21% of Wix.com worth $24,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its stake in Wix.com by 9.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock valued at $130,000 after acquiring an additional 55 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of 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 purchasing an additional 58 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Wix.com by 2.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock worth $502,000 after purchasing an additional 63 shares in the last quarter. Finally, Vestcor Inc increased its holdings in Wix.com by 8.0% in the fourth quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock valued at $183,000 after buying an additional 63 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WIX. Wells Fargo & Company reduced their price objective on Wix.com from $194.00 to $169.00 and set an “underweight” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 price target on shares of Wix.com in a research note on Thursday, February 20th. Robert W. Baird raised their target price on Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. JMP Securities reissued a “market outperform” rating and set a $240.00 price target on shares of Wix.com in a research report on Tuesday, February 18th. Finally, Bank of America upped their price objective 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.74.

Wix.com Trading Up 0.2 %

Shares of Wix.com stock opened at $172.75 on Tuesday. Wix.com Ltd. has a 12 month low of $117.58 and a 12 month high of $247.11. The stock’s fifty day simple moving average is $210.56 and its 200 day simple moving average is $196.69. The company has a market capitalization of $9.47 billion, a PE ratio of 73.51, a PEG ratio of 2.83 and a beta of 1.64.

Wix.com declared that its board has initiated a share buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are 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.