Independent Advisor Alliance Reduces Holdings in Wix.com Ltd. (NASDAQ:WIX)

Independent Advisor Alliance reduced its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 6.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,323 shares of the information services provider’s stock after selling 94 shares during the period. Independent Advisor Alliance’s holdings in Wix.com were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Wix.com by 23.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after acquiring an additional 49,500 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in Wix.com in the 3rd quarter worth approximately $661,000. Dimensional Fund Advisors LP boosted its stake in Wix.com by 448.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock worth $1,375,000 after purchasing an additional 7,070 shares during the period. California State Teachers Retirement System grew its holdings in Wix.com by 9.8% during the 1st quarter. California State Teachers Retirement System now owns 56,143 shares of the information services provider’s stock valued at $7,719,000 after buying an additional 5,033 shares in the last quarter. Finally, Lakehouse Capital Pty Ltd grew its holdings in Wix.com by 26.2% during the 3rd quarter. Lakehouse Capital Pty Ltd now owns 60,708 shares of the information services provider’s stock valued at $10,148,000 after buying an additional 12,600 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Trading Up 2.2 %

Shares of NASDAQ:WIX opened at $223.74 on Friday. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 139.84, a PEG ratio of 4.21 and a beta of 1.47. Wix.com Ltd. has a 12 month low of $100.13 and a 12 month high of $224.33. The firm’s 50-day moving average is $176.92 and its 200 day moving average is $166.24.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WIX shares. JPMorgan Chase & Co. upped their target price on shares of Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Bank of America raised their price objective on Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Benchmark boosted their target price on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. B. Riley raised their price target on Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Cantor Fitzgerald upped their price objective on Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and a consensus price target of $210.71.

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.