Corebridge Financial Inc. Sells 281 Shares of Wix.com Ltd. (NASDAQ:WIX)

Corebridge Financial Inc. lessened its holdings in Wix.com Ltd. (NASDAQ:WIX) by 2.9% during the 4th quarter, HoldingsChannel reports. The firm owned 9,514 shares of the information services provider’s stock after selling 281 shares during the period. Corebridge Financial Inc.’s holdings in Wix.com were worth $2,041,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WIX. Cullen Frost Bankers Inc. raised its holdings in Wix.com by 9.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock valued at $130,000 after buying an additional 55 shares during the period. Blue Trust Inc. raised its stake 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 valued at $54,000 after acquiring an additional 56 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after acquiring an additional 58 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock worth $502,000 after purchasing an additional 63 shares during the period. Finally, Vestcor Inc grew its holdings in Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock valued at $183,000 after purchasing an additional 63 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Stock Up 0.4 %

NASDAQ WIX opened at $164.00 on Wednesday. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11. The company has a 50 day moving average price of $201.95 and a 200 day moving average price of $197.25. The firm has a market cap of $9.20 billion, a PE ratio of 69.79, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $248.00 to $276.00 in a research note on Monday, January 13th. Citigroup raised their price target on Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Bank of America upped 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. Cantor Fitzgerald boosted their target price on shares of Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, UBS Group set a $250.00 price target on shares of Wix.com in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average 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.