Franklin Resources Inc. Has $7.67 Million Position in Wix.com Ltd. (NASDAQ:WIX)

Franklin Resources Inc. lifted its stake in Wix.com Ltd. (NASDAQ:WIX) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,143 shares of the information services provider’s stock after buying an additional 3,864 shares during the period. Franklin Resources Inc.’s holdings in Wix.com were worth $7,673,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WIX. Blue Trust Inc. increased its holdings in Wix.com by 98.0% in the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after buying an additional 98 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 130 shares in the last quarter. CWM LLC increased its stake in Wix.com by 19.0% in the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after acquiring an additional 101 shares during the period. Toronto Dominion Bank raised its position in Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares in the last quarter. Finally, Metis Global Partners LLC bought a new position in Wix.com during the third quarter worth about $200,000. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WIX shares. Piper Sandler upped their price objective on Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Cantor Fitzgerald upped their price target on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. Benchmark boosted their target price on shares of Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada increased their target price on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.71.

Wix.com Price Performance

Shares of Wix.com stock opened at $221.37 on Monday. The firm has a 50 day simple moving average of $193.64 and a 200 day simple moving average of $172.63. Wix.com Ltd. has a fifty-two week low of $114.18 and a fifty-two week high of $229.79. The firm has a market cap of $12.14 billion, a P/E ratio of 138.36, a P/E/G ratio of 4.22 and a beta of 1.55.

Wix.com 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.