Optimize Financial Inc Acquires New Stake in Wix.com Ltd. $WIX

Optimize Financial Inc bought a new position in Wix.com Ltd. (NASDAQ:WIX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,032 shares of the information services provider’s stock, valued at approximately $1,604,000. Wix.com accounts for about 0.8% of Optimize Financial Inc’s investment portfolio, making the stock its 10th largest holding.

A number of other large investors have also recently made changes to their positions in the stock. Westside Investment Management Inc. increased its stake in Wix.com by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after buying an additional 77 shares during the period. Blue Trust Inc. grew its stake in Wix.com by 47.8% in the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after acquiring an additional 132 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Wix.com by 0.8% during the third quarter. Asset Management One Co. Ltd. now owns 19,837 shares of the information services provider’s stock worth $3,524,000 after acquiring an additional 154 shares during the period. TD Asset Management Inc increased its position in shares of Wix.com by 0.8% during the second quarter. TD Asset Management Inc now owns 21,218 shares of the information services provider’s stock worth $3,362,000 after acquiring an additional 161 shares during the period. Finally, Cerity Partners LLC raised its stake in shares of Wix.com by 13.4% during the second quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider’s stock valued at $235,000 after acquiring an additional 175 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Stock Performance

WIX stock opened at $77.45 on Wednesday. Wix.com Ltd. has a one year low of $75.00 and a one year high of $239.73. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.58 and a beta of 1.42. The firm has a 50-day simple moving average of $96.09 and a two-hundred day simple moving average of $125.52.

Wix.com declared that its board has initiated a stock buyback program on Wednesday, January 28th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information services provider to repurchase up to 40.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

WIX has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Wix.com in a research note on Wednesday, January 21st. Oppenheimer dropped their price target on Wix.com from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday. Citigroup decreased their price objective on Wix.com from $197.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Raymond James Financial set a $74.00 price objective on shares of Wix.com in a research note on Wednesday, January 7th. Finally, Cantor Fitzgerald raised their target price on shares of Wix.com from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.43.

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.