California State Teachers Retirement System Reduces Position in Wix.com Ltd. (NASDAQ:WIX)

California State Teachers Retirement System cut its stake in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,404 shares of the information services provider's stock after selling 6,067 shares during the period. California State Teachers Retirement System owned about 0.08% of Wix.com worth $9,098,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WIX. Blue Trust Inc. boosted its position 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 period. Mediolanum International Funds Ltd lifted its stake in shares of Wix.com by 50.4% during the 4th quarter. Mediolanum International Funds Ltd now owns 20,147 shares of the information services provider's stock valued at $4,369,000 after buying an additional 6,747 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Wix.com by 26.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,711 shares of the information services provider's stock worth $582,000 after buying an additional 564 shares during the period. Jennison Associates LLC bought a new position in Wix.com in the 4th quarter worth $974,000. Finally, GDS Wealth Management increased its stake in Wix.com by 846.0% in the 4th quarter. GDS Wealth Management now owns 23,735 shares of the information services provider's stock worth $5,092,000 after buying an additional 21,226 shares in the last quarter. Institutional investors own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group lowered their price objective on Wix.com from $265.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Needham & Company LLC reissued a "buy" rating and issued a $250.00 price target on shares of Wix.com in a report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price target on Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their target price on shares of Wix.com from $176.00 to $173.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $200.00 target price on shares of Wix.com in a research report on Thursday, May 22nd. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Wix.com currently has an average rating of "Moderate Buy" and an average price target of $226.68.

Wix.com Price Performance

Shares of NASDAQ:WIX traded up $0.01 during trading on Monday, hitting $148.96. The company had a trading volume of 795,427 shares, compared to its average volume of 656,648. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 63.39, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56. The company has a fifty day simple moving average of $163.33 and a two-hundred day simple moving average of $195.77. Wix.com Ltd. has a one year low of $137.94 and a one year high of $247.11.

Wix.com announced that its Board of Directors has initiated a share repurchase program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

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.