Alliancebernstein L.P. Has $55.71 Million Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Alliancebernstein L.P. boosted its stake in Wix.com Ltd. (NASDAQ:WIX) by 1,382.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,649 shares of the information services provider’s stock after purchasing an additional 242,130 shares during the quarter. Alliancebernstein L.P. owned about 0.47% of Wix.com worth $55,708,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Wix.com by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 36,361 shares of the information services provider’s stock worth $6,078,000 after purchasing an additional 613 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Wix.com by 5.2% in the third quarter. Quantinno Capital Management LP now owns 10,385 shares of the information services provider’s stock valued at $1,736,000 after buying an additional 509 shares in the last quarter. Whale Rock Capital Management LLC grew its position in Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after acquiring an additional 165,810 shares during the last quarter. iA Global Asset Management Inc. raised its stake in Wix.com by 9.3% during the third quarter. iA Global Asset Management Inc. now owns 20,271 shares of the information services provider’s stock worth $3,389,000 after acquiring an additional 1,725 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of Wix.com by 348.6% in the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock worth $1,488,000 after acquiring an additional 6,919 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $235.00 price objective on shares of Wix.com in a research report on Wednesday, February 19th. Citigroup upped their price target on shares of Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Benchmark raised their price objective on Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Wix.com in a report on Thursday, February 20th. Finally, JMP Securities reissued a “market outperform” rating and set a $240.00 price target on shares of Wix.com in a research note on Tuesday, February 18th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.74.

Wix.com Trading Down 3.8 %

Shares of Wix.com stock opened at $150.01 on Friday. The company has a market cap of $8.42 billion, a P/E ratio of 63.83, a PEG ratio of 2.83 and a beta of 1.65. The business has a 50-day moving average price of $197.26 and a two-hundred day moving average price of $196.70. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11.

Wix.com declared that its Board of Directors has initiated a stock buyback 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 an indication that the company’s board 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.