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

Daiwa Securities Group Inc. lifted its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 96.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Wix.com by 31.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,512 shares of the information services provider’s stock valued at $6,975,000 after purchasing an additional 7,774 shares in the last quarter. Pettee Investors Inc. lifted its position in shares of Wix.com by 61.7% during the fourth quarter. Pettee Investors Inc. now owns 4,455 shares of the information services provider’s stock valued at $956,000 after purchasing an additional 1,700 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Wix.com by 52.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,592 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 1,239 shares in the last quarter. Inceptionr LLC lifted its position in shares of Wix.com by 232.0% during the fourth quarter. Inceptionr LLC now owns 5,993 shares of the information services provider’s stock valued at $1,286,000 after purchasing an additional 4,188 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Wix.com during the fourth quarter valued at about $8,066,000. 81.52% of the stock is owned by institutional investors.

Wix.com Price Performance

WIX stock opened at $172.59 on Friday. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The stock has a market cap of $9.46 billion, a PE ratio of 73.44, a P/E/G ratio of 2.83 and a beta of 1.64. The firm has a 50 day simple moving average of $216.76 and a two-hundred day simple moving average of $195.85.

Wix.com declared that its board has approved a share buyback program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to buy up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WIX shares. Bank of America boosted their price target on shares of 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 price target on shares of Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 price target on shares of Wix.com in a research report on Thursday, February 20th. Citigroup boosted their price target on shares of Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company lowered their price target on shares of Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.74.

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.