Sphera Funds Management LTD. Purchases 5,000 Shares of Wix.com Ltd. (NASDAQ:WIX)

Sphera Funds Management LTD. boosted its stake in Wix.com Ltd. (NASDAQ:WIX) by 14.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 39,253 shares of the information services provider’s stock after buying an additional 5,000 shares during the period. Wix.com makes up 1.5% of Sphera Funds Management LTD.’s portfolio, making the stock its 22nd largest holding. Sphera Funds Management LTD. owned 0.07% of Wix.com worth $8,422,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of WIX. Wealth Enhancement Advisory Services LLC grew its stake in Wix.com by 2.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock valued at $502,000 after buying an additional 63 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Wix.com by 94.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 26,326 shares of the information services provider’s stock worth $5,648,000 after purchasing an additional 12,807 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Wix.com by 10.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,435 shares of the information services provider’s stock worth $1,166,000 after purchasing an additional 504 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of Wix.com by 22.7% during the 4th quarter. Arkadios Wealth Advisors now owns 7,193 shares of the information services provider’s stock worth $1,543,000 after purchasing an additional 1,332 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Wix.com during the 4th quarter worth approximately $321,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Down 3.5%

Shares of NASDAQ WIX opened at $182.91 on Friday. The company has a market capitalization of $10.26 billion, a PE ratio of 77.83, a P/E/G ratio of 2.83 and a beta of 1.56. The firm has a fifty day simple moving average of $166.14 and a 200 day simple moving average of $196.45. Wix.com Ltd. has a twelve month low of $134.74 and a twelve month high of $247.11.

Wix.com announced that its board has approved a share repurchase program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

WIX has been the topic of a number of analyst reports. StockNews.com upgraded shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 price target on shares of Wix.com in a research report on Thursday, February 20th. Piper Sandler increased their price target on shares of Wix.com from $249.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Jefferies Financial Group reduced their price target on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, Barclays increased their price objective on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $237.74.

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.