Arrowstreet Capital Limited Partnership Acquires 701 Shares of Wix.com Ltd. (NASDAQ:WIX)

Arrowstreet Capital Limited Partnership raised its stake in Wix.com Ltd. (NASDAQ:WIX) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,009,909 shares of the information services provider’s stock after buying an additional 701 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Wix.com were worth $216,676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after buying an additional 130 shares during the period. Avior Wealth Management LLC grew its stake in shares of Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Wix.com during the 4th quarter worth approximately $43,000. Global Retirement Partners LLC increased its stake in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after acquiring an additional 58 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Wix.com in the fourth quarter worth $52,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Trading Down 4.3 %

Shares of NASDAQ WIX opened at $166.36 on Monday. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 70.79, a P/E/G ratio of 2.83 and a beta of 1.64. The stock’s 50-day moving average is $204.99 and its 200 day moving average is $197.13. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11.

Wix.com announced that its board has authorized a stock repurchase program on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Benchmark lifted their target price on Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. UBS Group set a $250.00 target price on Wix.com in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 25th. Bank of America upped their target price on Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $245.00 price target on shares of Wix.com in a report on Thursday, February 20th. 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 stock. According to data from MarketBeat, the stock presently has an average 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.