Man Group plc Buys 9,706 Shares of Wix.com Ltd. (NASDAQ:WIX)

Man Group plc boosted its position in Wix.com Ltd. (NASDAQ:WIX) by 1.5% in the 4th quarter, HoldingsChannel reports. The firm owned 643,651 shares of the information services provider’s stock after acquiring an additional 9,706 shares during the period. Man Group plc’s holdings in Wix.com were worth $138,095,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WIX. Franklin Resources Inc. raised its position in shares of Wix.com by 8.9% in the third quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider’s stock valued at $7,673,000 after buying an additional 3,864 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings 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 buying an additional 63 shares in the last quarter. Accurate Wealth Management LLC increased its holdings in shares of Wix.com by 27.3% during the fourth quarter. Accurate Wealth Management LLC now owns 7,684 shares of the information services provider’s stock worth $1,680,000 after buying an additional 1,649 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Wix.com by 94.7% during 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. boosted its position in Wix.com by 10.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,435 shares of the information services provider’s stock valued at $1,166,000 after acquiring an additional 504 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Trading Up 2.9%

Wix.com stock opened at $184.89 on Wednesday. The firm has a 50-day moving average price of $165.87 and a 200-day moving average price of $196.45. The firm 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 Ltd. has a 12-month low of $127.49 and a 12-month high of $247.11.

Wix.com announced that its board has approved a stock repurchase plan on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to buy 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.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley cut their price target on shares of Wix.com from $276.00 to $207.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Bank of America upped their price target on shares of Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Barclays upped their price target on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, StockNews.com raised shares of 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 given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.74.

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.