Invesco Ltd. Has $12.43 Million Stock Position in Wix.com Ltd. (NASDAQ:WIX)

Invesco Ltd. increased its position in Wix.com Ltd. (NASDAQ:WIX) by 66.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,932 shares of the information services provider’s stock after buying an additional 23,037 shares during the period. Invesco Ltd. owned 0.11% of Wix.com worth $12,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. increased its position in shares of Wix.com by 9.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock worth $130,000 after acquiring an additional 55 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Wix.com by 28.3% in the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after purchasing an additional 56 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in 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. Finally, Vestcor Inc raised its position in Wix.com by 8.0% in the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock valued at $183,000 after buying an additional 63 shares during the last quarter. 81.52% of the stock is owned by institutional investors.

Wix.com Price Performance

NASDAQ WIX opened at $146.50 on Tuesday. The company’s 50 day simple moving average is $177.75 and its two-hundred day simple moving average is $196.38. The stock has a market capitalization of $8.22 billion, a PE ratio of 62.34, a P/E/G ratio of 2.83 and a beta of 1.65. 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 initiated a stock buyback plan 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 plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently commented on WIX. Benchmark increased their target price on shares of Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Scotiabank started coverage on Wix.com in a research note on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 target price on the stock. Cfra Research downgraded Wix.com from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Cantor Fitzgerald boosted their price objective on Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company raised Wix.com from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $169.00 to $176.00 in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $238.89.

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.