MetLife Investment Management LLC Raises Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

MetLife Investment Management LLC lifted its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 35.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,100 shares of the information services provider’s stock after purchasing an additional 1,600 shares during the quarter. MetLife Investment Management LLC’s holdings in Wix.com were worth $1,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WIX. Tidal Investments LLC grew its holdings in shares of Wix.com by 3.4% during the third quarter. Tidal Investments LLC now owns 34,646 shares of the information services provider’s stock worth $5,792,000 after purchasing an additional 1,127 shares in the last quarter. Franklin Resources Inc. lifted its position in Wix.com by 8.9% in the 3rd quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider’s stock worth $7,673,000 after buying an additional 3,864 shares during the last quarter. GAMMA Investing LLC lifted its position in Wix.com by 962.7% in the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider’s stock worth $116,000 after buying an additional 491 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Wix.com in the 4th quarter worth approximately $1,042,000. Finally, Fulton Bank N.A. bought a new stake in Wix.com in the 4th quarter worth approximately $211,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 0.2 %

Shares of WIX opened at $169.59 on Thursday. The business’s 50 day moving average price is $170.33 and its 200-day moving average price is $196.00. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The stock has a market cap of $9.52 billion, a P/E ratio of 72.17, a P/E/G ratio of 2.83 and a beta of 1.65.

Wix.com announced that its board has approved a share buyback program on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to buy up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WIX shares. Oppenheimer dropped their target price on Wix.com from $250.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday. Cantor Fitzgerald boosted their target price on Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Bank of America boosted their price objective on Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Citigroup lowered their price objective on Wix.com from $280.00 to $238.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their price objective on Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and a consensus price target of $237.74.

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.