Nicholas Investment Partners LP Purchases 1,971 Shares of Wix.com Ltd. (NASDAQ:WIX)

Nicholas Investment Partners LP increased its position in Wix.com Ltd. (NASDAQ:WIX) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 56,725 shares of the information services provider’s stock after acquiring an additional 1,971 shares during the quarter. Wix.com accounts for 1.1% of Nicholas Investment Partners LP’s holdings, making the stock its 22nd largest position. Nicholas Investment Partners LP’s holdings in Wix.com were worth $12,170,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WIX. Franklin Resources Inc. lifted its holdings in Wix.com by 8.9% during the 3rd quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider’s stock worth $7,673,000 after buying an additional 3,864 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Wix.com by 2.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock worth $502,000 after acquiring an additional 63 shares during the last quarter. Accurate Wealth Management LLC lifted its stake in shares of Wix.com by 27.3% in the fourth quarter. Accurate Wealth Management LLC now owns 7,684 shares of the information services provider’s stock worth $1,680,000 after acquiring an additional 1,649 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Wix.com by 94.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 26,326 shares of the information services provider’s stock valued at $5,648,000 after acquiring an additional 12,807 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in Wix.com by 10.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,435 shares of the information services provider’s stock valued at $1,166,000 after purchasing an additional 504 shares during the period. Institutional investors own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WIX. Wells Fargo & Company upgraded shares of Wix.com from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $169.00 to $176.00 in a research report on Tuesday, April 8th. Benchmark upped their price target 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. UBS Group set a $250.00 price target on Wix.com in a report on Wednesday, March 5th. Bank of America boosted their price objective on Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, StockNews.com upgraded Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $237.74.

Wix.com Stock Performance

Shares of Wix.com stock opened at $184.89 on Wednesday. Wix.com Ltd. has a 52 week low of $127.49 and a 52 week high of $247.11. The stock has a 50 day moving average price of $165.87 and a two-hundred day moving average price of $196.45. The stock has a market capitalization of $10.37 billion, a PE ratio of 78.68, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56.

Wix.com declared that its board has authorized a share repurchase plan on Thursday, February 27th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management 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.