Wix.com Ltd. (NASDAQ:WIX) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Wix.com Ltd. (NASDAQ:WIX) by 1.7% during the fourth quarter, Holdings Channel reports. The firm owned 36,973 shares of the information services provider’s stock after acquiring an additional 612 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Wix.com were worth $7,933,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in shares of 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 purchasing an additional 130 shares during the period. Avior Wealth Management LLC grew its holdings in Wix.com by 79.5% during the fourth 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 period. Newbridge Financial Services Group Inc. acquired a new stake in Wix.com during the fourth quarter worth about $43,000. Global Retirement Partners LLC grew its holdings 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 worth $47,000 after acquiring an additional 58 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in Wix.com during the fourth quarter worth about $52,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Stock Up 1.9 %

WIX stock opened at $172.33 on Monday. The business has a fifty day moving average of $211.60 and a two-hundred day moving average of $196.60. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 73.33, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a 52-week low of $117.58 and a 52-week high of $247.11.

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

Analyst Ratings Changes

WIX has been the topic of several analyst reports. Barclays raised their target price on Wix.com from $236.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 target price on shares of Wix.com in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 target price on shares of Wix.com in a report on Wednesday, February 19th. StockNews.com upgraded Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 14th. Finally, Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.