Teacher Retirement System of Texas Has $4.65 Million Stake in Wix.com Ltd. (NASDAQ:WIX)

Teacher Retirement System of Texas lifted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 30.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,658 shares of the information services provider’s stock after acquiring an additional 5,006 shares during the quarter. Teacher Retirement System of Texas’ holdings in Wix.com were worth $4,647,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its holdings in Wix.com by 82.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 4,842 shares of the information services provider’s stock worth $1,038,000 after buying an additional 2,188 shares during the period. Vinva Investment Management Ltd lifted its holdings in Wix.com by 23.4% during the 4th quarter. Vinva Investment Management Ltd now owns 71,219 shares of the information services provider’s stock worth $15,845,000 after buying an additional 13,510 shares during the period. Counterpoint Mutual Funds LLC lifted its holdings in Wix.com by 119.2% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 6,348 shares of the information services provider’s stock worth $1,362,000 after buying an additional 3,452 shares during the period. Corient Private Wealth LLC lifted its holdings in Wix.com by 6.5% during the 4th quarter. Corient Private Wealth LLC now owns 4,319 shares of the information services provider’s stock worth $927,000 after buying an additional 264 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in Wix.com by 17.5% during the 4th quarter. Natixis Advisors LLC now owns 16,937 shares of the information services provider’s stock worth $3,634,000 after buying an additional 2,523 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Performance

Shares of Wix.com stock opened at $172.33 on Monday. The stock’s 50-day simple moving average is $211.60 and its 200 day simple moving average is $196.60. Wix.com Ltd. has a 52-week low of $117.58 and a 52-week high of $247.11. The stock has a market capitalization of $9.45 billion, a P/E ratio of 73.33, a P/E/G ratio of 2.83 and a beta of 1.64.

Wix.com declared that its Board of Directors has approved a stock buyback program on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on WIX. Barclays lifted their target price on Wix.com from $236.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Piper Sandler lifted their target price on Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Morgan Stanley raised Wix.com from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $248.00 to $276.00 in a research note on Monday, January 13th. Jefferies Financial Group boosted their price objective on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, StockNews.com raised Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus price target 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.