California Public Employees Retirement System Has $18.60 Million Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

California Public Employees Retirement System decreased its stake in Wix.com Ltd. (NASDAQ:WIX) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,681 shares of the information services provider’s stock after selling 4,719 shares during the period. California Public Employees Retirement System owned 0.16% of Wix.com worth $18,597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Newbridge Financial Services Group Inc. bought a new stake in Wix.com during the fourth quarter worth $43,000. Avior Wealth Management LLC increased its stake in shares of Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after purchasing an additional 89 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after purchasing an additional 58 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Wix.com in the 4th quarter valued at about $52,000. Finally, Blue Trust Inc. lifted its stake in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Trading Down 3.8 %

NASDAQ WIX opened at $150.01 on Friday. The firm’s 50 day simple moving average is $197.26 and its 200 day simple moving average is $196.70. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 63.83, 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 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 buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WIX shares. Cantor Fitzgerald upped their price objective on Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Piper Sandler raised their price target on Wix.com from $249.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Scotiabank started coverage on shares of Wix.com in a research report on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 price objective on the stock. Citigroup raised their target price on shares of Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

About Wix.com

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.