Retirement Systems of Alabama Takes Position in Wix.com Ltd. (NASDAQ:WIX)

Retirement Systems of Alabama purchased a new stake in Wix.com Ltd. (NASDAQ:WIX - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 18,900 shares of the information services provider's stock, valued at approximately $3,088,000.

Several other large investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its position in Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock valued at $47,000 after acquiring an additional 58 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Wix.com during the fourth quarter worth $52,000. Blue Trust Inc. lifted its holdings in shares of Wix.com by 30.3% during the 4th quarter. Blue Trust Inc. now owns 258 shares of the information services provider's stock valued at $55,000 after purchasing an additional 60 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Wix.com by 559.6% during the 4th quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider's stock valued at $74,000 after purchasing an additional 291 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Wix.com in the 4th quarter worth $114,000. 81.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WIX shares. B. Riley reaffirmed a "buy" rating and set a $230.00 target price (down from $240.00) on shares of Wix.com in a research report on Wednesday, May 28th. Baird R W upgraded Wix.com from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. Scotiabank initiated coverage on shares of Wix.com in a report on Wednesday, March 5th. They set a "sector outperform" rating and a $250.00 price objective on the stock. UBS Group lowered their target price on shares of Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 target price on shares of Wix.com in a research report on Wednesday, June 18th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $228.95.

Wix.com Stock Down 0.8%

Shares of WIX stock traded down $1.25 on Friday, hitting $158.01. The company had a trading volume of 942,729 shares, compared to its average volume of 686,598. Wix.com Ltd. has a twelve month low of $137.94 and a twelve month high of $247.11. The firm has a market cap of $8.87 billion, a P/E ratio of 62.95, a price-to-earnings-growth ratio of 2.54 and a beta of 1.31. The company has a 50-day moving average price of $161.69 and a 200-day moving average price of $188.12.

Wix.com announced that its Board of Directors has initiated a share buyback program on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.