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

Daiwa Securities Group Inc. increased its stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 96.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,759 shares of the information services provider's stock after purchasing an additional 4,784 shares during the period. Daiwa Securities Group Inc.'s holdings in Wix.com were worth $2,093,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in WIX. Cullen Frost Bankers Inc. grew its stake in Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock valued at $130,000 after purchasing an additional 55 shares during the period. Blue Trust Inc. lifted its stake in shares of Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after purchasing an additional 56 shares during the period. Global Retirement Partners LLC increased 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 purchasing an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Wix.com by 2.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock worth $502,000 after acquiring an additional 63 shares during the period. Finally, Avior Wealth Management LLC lifted its position in shares of Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after acquiring an additional 89 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several research analysts have commented on the company. Benchmark raised their price objective on Wix.com from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Wells Fargo & Company cut their price objective on Wix.com from $194.00 to $169.00 and set an "underweight" rating on the stock in a research report on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and set a $245.00 target price on shares of Wix.com in a research note on Thursday, February 20th. Bank of America raised their price objective on shares of Wix.com from $228.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group lifted their target price on shares of Wix.com from $225.00 to $260.00 and gave the company a "buy" rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $243.74.

Wix.com Trading Down 0.1 %

WIX stock traded down $0.24 during trading on Friday, reaching $172.59. The stock had a trading volume of 952,081 shares, compared to its average volume of 590,868. The stock's 50 day moving average is $216.76 and its two-hundred day moving average is $195.85. The firm has a market cap of $9.46 billion, a PE ratio of 73.44, a PEG ratio of 2.83 and a beta of 1.64. Wix.com Ltd. has a 52 week low of $117.58 and a 52 week high of $247.11.

Wix.com declared that its board has authorized a stock repurchase plan on Thursday, February 27th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

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.