Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in Wix.com Ltd. $WIX

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 26.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 52,248 shares of the information services provider’s stock after acquiring an additional 10,921 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of Wix.com worth $9,281,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Westside Investment Management Inc. raised its holdings in shares of Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 77 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after purchasing an additional 215 shares in the last quarter. MAI Capital Management raised its stake in Wix.com by 109.1% in the 3rd quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock valued at $65,000 after purchasing an additional 191 shares during the last quarter. Penserra Capital Management LLC purchased a new position in Wix.com in the 2nd quarter valued at $77,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Wix.com by 508.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 779 shares of the information services provider’s stock valued at $123,000 after purchasing an additional 651 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Price Performance

Wix.com stock opened at $72.56 on Tuesday. The firm has a 50 day simple moving average of $84.55 and a 200-day simple moving average of $116.74. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 2.19 and a beta of 1.40. Wix.com Ltd. has a 1-year low of $60.22 and a 1-year high of $202.43.

Wix.com announced that its board has initiated a share repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase up to 40.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WIX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Wix.com in a research report on Wednesday, January 21st. Citigroup dropped their price objective on shares of Wix.com from $197.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Oppenheimer cut their price objective on shares of Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Citizens Jmp lowered their target price on Wix.com from $185.00 to $125.00 and set a “market outperform” rating on the stock in a report on Thursday, January 22nd. Finally, Barclays dropped their price target on Wix.com from $210.00 to $205.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.05.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.