Schroder Investment Management Group Acquires 116,456 Shares of Wix.com Ltd. (NASDAQ:WIX)

Schroder Investment Management Group boosted its holdings in Wix.com Ltd. (NASDAQ:WIX) by 1,383.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,871 shares of the information services provider’s stock after purchasing an additional 116,456 shares during the period. Schroder Investment Management Group owned approximately 0.23% of Wix.com worth $27,146,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Whale Rock Capital Management LLC grew its holdings in shares of Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after purchasing an additional 165,810 shares during the last quarter. SG Americas Securities LLC grew 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 acquiring an additional 400,265 shares during the last quarter. Geode Capital Management LLC grew its holdings in Wix.com by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock worth $76,848,000 after acquiring an additional 14,340 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Wix.com by 4.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 314,039 shares of the information services provider’s stock valued at $67,377,000 after acquiring an additional 12,531 shares during the period. Finally, Norges Bank bought a new position in shares of Wix.com during the fourth quarter valued at about $63,829,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Price Performance

WIX opened at $165.87 on Thursday. The firm has a market cap of $9.31 billion, a PE ratio of 70.58, a P/E/G ratio of 2.83 and a beta of 1.65. The stock has a 50-day moving average price of $200.57 and a 200-day moving average price of $197.03. Wix.com Ltd. has a 1 year low of $117.58 and a 1 year high of $247.11.

Wix.com declared that its Board of Directors has initiated a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

WIX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Jefferies Financial Group boosted their target price on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Cantor Fitzgerald raised their price target on Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Benchmark boosted their price objective on shares of Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $248.00 to $276.00 in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.74.

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.