Wix.com Ltd. (NASDAQ:WIX) Shares Bought by Man Group plc

Man Group plc grew its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 643,651 shares of the information services provider’s stock after purchasing an additional 9,706 shares during the quarter. Man Group plc owned 1.17% of Wix.com worth $138,095,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC grew its holdings in shares of Wix.com by 79.5% in 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 last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Wix.com in the fourth quarter worth about $43,000. Global Retirement Partners LLC increased its stake in shares of Wix.com by 36.0% in 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 period. SBI Securities Co. Ltd. bought a new position in shares of Wix.com in the fourth quarter worth about $52,000. Finally, Blue Trust Inc. increased its stake in shares of Wix.com by 28.3% in the fourth 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 currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WIX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. StockNews.com upgraded shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Morgan Stanley reduced their target price on Wix.com from $276.00 to $207.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Bank of America boosted their target price on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Raymond James raised Wix.com from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Five research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $237.74.

Wix.com Trading Up 2.9%

WIX stock opened at $184.89 on Wednesday. The stock has a 50-day moving average price of $165.87 and a two-hundred day moving average price of $196.45. The stock has a market cap of $10.37 billion, a PE ratio of 78.68, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 1 year low of $127.49 and a 1 year high of $247.11.

Wix.com declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.