Daiwa Securities Group Inc. Cuts Holdings in Wix.com Ltd. (NASDAQ:WIX)

Daiwa Securities Group Inc. decreased its holdings in Wix.com Ltd. (NASDAQ:WIX) by 47.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,695 shares of the information services provider’s stock after selling 4,252 shares during the period. Daiwa Securities Group Inc.’s holdings in Wix.com were worth $747,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of WIX. Northwest Bank & Trust Co purchased a new stake in shares of Wix.com during the 4th quarter worth $26,000. Fidelis Capital Partners LLC bought a new stake in shares of Wix.com in the 1st quarter valued at about $37,000. Industrial Alliance Investment Management Inc. grew its position in shares of Wix.com by 246.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after buying an additional 488 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Wix.com during the 4th quarter worth approximately $93,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in Wix.com during the first quarter valued at approximately $214,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Up 2.0 %

Shares of WIX stock opened at $156.74 on Monday. The stock has a market cap of $8.59 billion, a PE ratio of 137.49, a price-to-earnings-growth ratio of 3.41 and a beta of 1.47. Wix.com Ltd. has a 52-week low of $76.90 and a 52-week high of $178.65. The business has a 50-day simple moving average of $160.62 and a 200-day simple moving average of $149.65.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.32 by $0.35. The business had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. Sell-side analysts anticipate that Wix.com Ltd. will post 2.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WIX has been the topic of several analyst reports. Benchmark lifted their price target on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. B. Riley upped their target price on Wix.com from $154.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Cantor Fitzgerald started coverage on Wix.com in a report on Thursday, September 5th. They issued an “overweight” rating and a $200.00 price target for the company. Citigroup upped their price objective on shares of Wix.com from $175.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, Royal Bank of Canada lifted their target price on shares of Wix.com from $160.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and an average target price of $189.19.

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.