Independent Advisor Alliance Has $270,000 Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Independent Advisor Alliance trimmed its holdings in Wix.com Ltd. (NASDAQ:WIX) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,260 shares of the information services provider’s stock after selling 63 shares during the quarter. Independent Advisor Alliance’s holdings in Wix.com were worth $270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Senvest Management LLC raised its stake in shares of Wix.com by 4.7% in the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after acquiring an additional 50,482 shares during the last quarter. Whale Rock Capital Management LLC raised its position in Wix.com by 31.6% in the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after purchasing an additional 165,810 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after buying an additional 400,265 shares in the last quarter. Geode Capital Management LLC boosted its position in Wix.com by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after buying an additional 14,340 shares during the last quarter. Finally, Meitav Investment House Ltd. increased its stake in shares of Wix.com by 2.7% in the 4th quarter. Meitav Investment House Ltd. now owns 252,951 shares of the information services provider’s stock valued at $54,248,000 after buying an additional 6,713 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

WIX has been the topic of several research reports. Wells Fargo & Company cut their price target on Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research note on Thursday, November 21st. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $225.00 to $300.00 in a research note on Tuesday, January 21st. Needham & Company LLC restated a “buy” rating and issued a $235.00 price objective on shares of Wix.com in a report on Wednesday, February 19th. Finally, Robert W. Baird lifted their target price on shares of Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.74.

Wix.com Stock Up 2.6 %

Wix.com stock opened at $172.41 on Thursday. Wix.com Ltd. has a twelve month low of $117.58 and a twelve month high of $247.11. The company has a 50 day moving average of $213.63 and a 200-day moving average of $196.21. The stock has a market capitalization of $9.45 billion, a PE ratio of 73.37, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64.

Wix.com declared that its board has initiated a share buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.