Wix.com Ltd. (NASDAQ:WIX) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 226.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,073 shares of the information services provider’s stock after buying an additional 106,930 shares during the quarter. Franklin Resources Inc. owned about 0.28% of Wix.com worth $33,056,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WIX. Avior Wealth Management LLC grew its stake 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 valued at $43,000 after purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wix.com during the fourth quarter worth $43,000. Global Retirement Partners LLC grew its position in Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after buying an additional 58 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Wix.com in the 4th quarter valued at $52,000. Finally, Blue Trust Inc. raised its position in Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WIX shares. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $248.00 to $276.00 in a report on Monday, January 13th. Jefferies Financial Group boosted their target price on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Scotiabank started coverage on Wix.com in a report on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 price target for the company. 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. Finally, Bank of America raised their target price on Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.74.

Wix.com Stock Performance

Wix.com stock opened at $150.01 on Friday. Wix.com Ltd. has a fifty-two week low of $117.58 and a fifty-two week high of $247.11. The stock has a fifty day moving average of $197.26 and a two-hundred day moving average of $196.96. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 63.83, a PEG ratio of 2.83 and a beta of 1.65.

Wix.com announced that its board has initiated a stock buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are often 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.