OMERS ADMINISTRATION Corp Buys Shares of 15,353 Wix.com Ltd. $WIX

OMERS ADMINISTRATION Corp purchased a new position in Wix.com Ltd. (NASDAQ:WIX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 15,353 shares of the information services provider’s stock, valued at approximately $2,433,000.

A number of other hedge funds have also recently modified their holdings of the business. Cetera Investment Advisers raised its holdings in Wix.com by 9.9% in the 1st quarter. Cetera Investment Advisers now owns 1,558 shares of the information services provider’s stock worth $255,000 after purchasing an additional 140 shares during the period. LPL Financial LLC grew its stake in shares of Wix.com by 17.1% during the 1st quarter. LPL Financial LLC now owns 8,525 shares of the information services provider’s stock valued at $1,393,000 after acquiring an additional 1,248 shares during the period. US Bancorp DE lifted its holdings in Wix.com by 25.1% during the first quarter. US Bancorp DE now owns 13,831 shares of the information services provider’s stock valued at $2,260,000 after purchasing an additional 2,774 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Wix.com by 42.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,116 shares of the information services provider’s stock worth $836,000 after purchasing an additional 1,524 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Wix.com in the first quarter worth $110,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Trading Up 0.7%

Shares of WIX opened at $95.86 on Wednesday. The firm has a market capitalization of $5.38 billion, a P/E ratio of 40.97, a P/E/G ratio of 1.81 and a beta of 1.42. Wix.com Ltd. has a 12-month low of $92.23 and a 12-month high of $247.11. The firm has a fifty day moving average price of $133.15 and a 200-day moving average price of $144.75.

Wix.com announced that its board has approved a stock repurchase plan on Monday, August 11th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on WIX shares. Barclays lowered their target price on shares of Wix.com from $235.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. Oppenheimer dropped their target price on Wix.com from $220.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. B. Riley restated a “buy” rating and set a $200.00 price target (down previously from $230.00) on shares of Wix.com in a report on Thursday, November 20th. Citigroup dropped their price objective on shares of Wix.com from $197.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Finally, Piper Sandler boosted their price objective on shares of Wix.com from $206.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.81.

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.