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

Franklin Resources Inc. lifted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 226.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,073 shares of the information services provider’s stock after purchasing an additional 106,930 shares during the quarter. Franklin Resources Inc.’s holdings in Wix.com were worth $33,056,000 as of its most recent SEC filing.

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

Wix.com Trading Down 3.8 %

Shares of NASDAQ:WIX opened at $150.01 on Friday. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The firm has a market cap of $8.42 billion, a PE ratio of 63.83, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The company has a fifty day simple moving average of $197.26 and a 200 day simple moving average of $196.96.

Wix.com announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

WIX has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Wix.com in a research note on Thursday, February 20th. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $225.00 to $300.00 in a research report on Tuesday, January 21st. Scotiabank started coverage on shares of Wix.com in a research report on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 price objective for the company. Jefferies Financial Group lifted their target price on shares of Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price target on Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Wix.com presently 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.