Schroder Investment Management Group Grows Position in Wix.com Ltd. (NASDAQ:WIX)

Schroder Investment Management Group increased its holdings in Wix.com Ltd. (NASDAQ:WIX) by 1,383.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 124,871 shares of the information services provider’s stock after buying an additional 116,456 shares during the quarter. Schroder Investment Management Group’s holdings in Wix.com were worth $27,146,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WIX. Avior Wealth Management LLC lifted its holdings in shares of Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after buying an additional 89 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Wix.com in the fourth quarter worth $43,000. Global Retirement Partners LLC increased its position in Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 58 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Wix.com in the fourth quarter valued at about $52,000. Finally, Blue Trust Inc. boosted its position in 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 last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Up 1.1 %

WIX opened at $165.87 on Thursday. The company has a market capitalization of $9.31 billion, a PE ratio of 70.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. The firm has a 50-day simple moving average of $200.57 and a two-hundred day simple moving average of $197.03. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald upped their price target on shares of Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. reduced their target price on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Citigroup increased their price target on shares of Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a research report 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 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 report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

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.