Daiwa Securities Group Inc. Decreases Position in Wix.com Ltd. (NASDAQ:WIX)

Daiwa Securities Group Inc. decreased its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 20.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,675 shares of the information services provider’s stock after selling 2,478 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Wix.com were worth $1,190,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. HighMark Wealth Management LLC acquired a new position in Wix.com during the fourth quarter worth approximately $26,000. BluePath Capital Management LLC acquired a new position in shares of Wix.com in the third quarter valued at approximately $37,000. Headlands Technologies LLC acquired a new position in shares of Wix.com in the third quarter valued at approximately $45,000. Algert Global LLC acquired a new position in shares of Wix.com in the third quarter valued at approximately $214,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Wix.com by 5.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock valued at $226,000 after purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Up 2.2 %

Shares of NASDAQ:WIX opened at $124.18 on Wednesday. Wix.com Ltd. has a 52-week low of $73.39 and a 52-week high of $146.21. The stock’s fifty day simple moving average is $134.26 and its 200-day simple moving average is $116.86. The company has a market capitalization of $6.91 billion, a P/E ratio of 225.78, a P/E/G ratio of 4.18 and a beta of 1.33.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.24. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The business had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. During the same period in the prior year, the business earned ($0.42) earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts anticipate that Wix.com Ltd. will post 1.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WIX shares. Benchmark boosted their target price on Wix.com from $132.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Morgan Stanley dropped their target price on Wix.com from $157.00 to $143.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada boosted their target price on Wix.com from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Wix.com in a research note on Wednesday, February 21st. Finally, B. Riley lifted their price target on Wix.com from $120.00 to $141.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and an average price target of $144.29.

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.