Wix.com Ltd. (NASDAQ:WIX) Holdings Lowered by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB trimmed its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 34.7% in the 1st quarter, HoldingsChannel reports. The firm owned 171 shares of the information services provider’s stock after selling 91 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Wix.com were worth $28,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Wix.com by 8.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,468 shares of the information services provider’s stock valued at $530,000 after purchasing an additional 193 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Wix.com by 211.0% during the fourth quarter. Mackenzie Financial Corp now owns 29,395 shares of the information services provider’s stock valued at $6,307,000 after purchasing an additional 19,943 shares during the last quarter. JT Stratford LLC purchased a new stake in shares of Wix.com during the fourth quarter valued at $218,000. USS Investment Management Ltd lifted its holdings in shares of Wix.com by 12.5% during the fourth quarter. USS Investment Management Ltd now owns 10,404 shares of the information services provider’s stock valued at $2,232,000 after purchasing an additional 1,157 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Wix.com by 15.7% during the fourth quarter. Voloridge Investment Management LLC now owns 380,909 shares of the information services provider’s stock valued at $81,724,000 after purchasing an additional 51,581 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Price Performance

Shares of WIX stock opened at $151.65 on Wednesday. Wix.com Ltd. has a fifty-two week low of $137.94 and a fifty-two week high of $247.11. The stock’s 50-day moving average is $162.49 and its two-hundred day moving average is $195.24. The firm has a market cap of $8.51 billion, a P/E ratio of 64.53, a PEG ratio of 2.83 and a beta of 1.56.

Wix.com declared that its Board of Directors has approved a share buyback plan on Thursday, February 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $230.00 price objective (down from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. Citigroup reduced their price objective on Wix.com from $280.00 to $238.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Thursday, May 22nd. Needham & Company LLC reissued a “buy” rating and issued a $250.00 price objective on shares of Wix.com in a research note on Wednesday, May 21st. Finally, Baird R W raised Wix.com from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and a consensus price target of $226.68.

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.