Daiwa Securities Group Inc. Acquires 4,784 Shares of Wix.com Ltd. (NASDAQ:WIX)

Daiwa Securities Group Inc. lifted its holdings in Wix.com Ltd. (NASDAQ:WIX) by 96.2% in the fourth quarter, HoldingsChannel reports. The fund owned 9,759 shares of the information services provider’s stock after buying an additional 4,784 shares during the period. Daiwa Securities Group Inc.’s holdings in Wix.com were worth $2,093,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WIX. Advisors Asset Management Inc. lifted its holdings in shares of Wix.com by 112.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after acquiring an additional 130 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Wix.com by 79.5% in the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after acquiring an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Wix.com during the 4th quarter valued at $43,000. Global Retirement Partners LLC raised its holdings in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after buying an additional 58 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Wix.com during the 4th quarter valued at $52,000. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WIX has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of Wix.com from $249.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Raymond James upgraded shares of Wix.com from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $225.00 to $300.00 in a report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 price target on shares of Wix.com in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price target on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Citigroup upped their price target on shares of Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.74.

Wix.com Price Performance

NASDAQ:WIX opened at $172.59 on Friday. The firm’s 50-day moving average price is $216.76 and its 200-day moving average price is $195.85. The company has a market capitalization of $9.46 billion, a PE ratio of 73.44, a P/E/G ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a 1-year low of $117.58 and a 1-year high of $247.11.

Wix.com announced that its Board of Directors has approved a stock buyback plan on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is 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.