SBI Securities Co. Ltd. Takes Position in Wix.com Ltd. (NASDAQ:WIX)

SBI Securities Co. Ltd. acquired a new position in Wix.com Ltd. (NASDAQ:WIX) during the 4th quarter, HoldingsChannel reports. The fund acquired 242 shares of the information services provider’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WIX. Jones Financial Companies Lllp boosted its holdings in Wix.com by 559.6% in the fourth quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider’s stock valued at $74,000 after acquiring an additional 291 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Wix.com by 27.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 887 shares of the information services provider’s stock valued at $193,000 after purchasing an additional 192 shares during the last quarter. US Bancorp DE increased its position in shares of Wix.com by 1.9% during the fourth quarter. US Bancorp DE now owns 11,057 shares of the information services provider’s stock worth $2,372,000 after buying an additional 209 shares during the period. Mutual of America Capital Management LLC bought a new position in Wix.com during the fourth quarter worth $8,229,000. Finally, Proficio Capital Partners LLC acquired a new position in Wix.com in the fourth quarter valued at $11,508,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Trading Down 8.7 %

Shares of Wix.com stock opened at $170.40 on Tuesday. The stock has a fifty day simple moving average of $220.20 and a 200 day simple moving average of $196.06. Wix.com Ltd. has a 12-month low of $117.58 and a 12-month high of $247.11. The company has a market capitalization of $9.34 billion, a P/E ratio of 72.51, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barclays upped their target price on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Morgan Stanley upgraded Wix.com from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $248.00 to $276.00 in a report on Monday, January 13th. Scotiabank initiated coverage on shares of Wix.com in a research note on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $235.00 target price on shares of Wix.com in a research note on Wednesday, February 19th. Finally, JMP Securities restated a “market outperform” rating and issued a $240.00 price target on shares of Wix.com in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

Wix.com Company 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.