Wix.com Ltd. (NASDAQ:WIX) Holdings Trimmed by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its holdings in Wix.com Ltd. (NASDAQ:WIX) by 1.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 14,490 shares of the information services provider’s stock after selling 190 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Wix.com were worth $3,109,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Wix.com by 558.5% during the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after buying an additional 400,265 shares in the last quarter. Norges Bank purchased a new position in Wix.com during the 4th quarter worth approximately $63,829,000. Whale Rock Capital Management LLC raised its stake in Wix.com by 31.6% during the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after purchasing an additional 165,810 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Wix.com by 90.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider’s stock valued at $39,859,000 after purchasing an additional 87,327 shares in the last quarter. Finally, Polar Asset Management Partners Inc. boosted its position in shares of Wix.com by 192.9% in the third quarter. Polar Asset Management Partners Inc. now owns 98,500 shares of the information services provider’s stock worth $16,466,000 after buying an additional 64,869 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays increased their price objective on Wix.com from $236.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Morgan Stanley upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $248.00 to $276.00 in a report on Monday, January 13th. Scotiabank assumed coverage on shares of Wix.com in a research report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price objective on the stock. Raymond James upgraded shares of Wix.com from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. Finally, 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 report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

Wix.com Price Performance

Shares of WIX opened at $165.87 on Thursday. Wix.com Ltd. has a one year low of $117.58 and a one year high of $247.11. The company’s fifty day moving average price is $200.57 and its 200 day moving average price is $197.03. The company has a market capitalization of $9.31 billion, a PE ratio of 70.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.

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

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.