Sphera Management Technology Funds Ltd Buys New Stake in Wix.com Ltd. (NASDAQ:WIX)

Sphera Management Technology Funds Ltd bought a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,500 shares of the information services provider’s stock, valued at approximately $2,682,000. Wix.com makes up 1.6% of Sphera Management Technology Funds Ltd’s portfolio, making the stock its 12th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Two Sigma Advisers LP lifted its holdings in shares of Wix.com by 106.0% during the 4th quarter. Two Sigma Advisers LP now owns 220,800 shares of the information services provider’s stock valued at $47,373,000 after acquiring an additional 113,600 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Wix.com by 93.8% in the 4th quarter. Two Sigma Investments LP now owns 345,389 shares of the information services provider’s stock worth $74,103,000 after buying an additional 167,143 shares in the last quarter. Tairen Capital Ltd acquired a new position in Wix.com in the 4th quarter worth $2,403,000. Strategic Global Advisors LLC increased its position in shares of Wix.com by 0.5% in the 4th quarter. Strategic Global Advisors LLC now owns 107,570 shares of the information services provider’s stock worth $23,079,000 after purchasing an additional 550 shares during the last quarter. Finally, Sphera Funds Management LTD. increased its position in shares of Wix.com by 14.6% in the 4th quarter. Sphera Funds Management LTD. now owns 39,253 shares of the information services provider’s stock worth $8,422,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

WIX has been the subject of several research analyst reports. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. Citigroup dropped their target price on shares of Wix.com from $280.00 to $238.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Jefferies Financial Group dropped their target price on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Cantor Fitzgerald boosted their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $235.00 target price on shares of Wix.com in a research report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $237.74.

Wix.com Price Performance

NASDAQ WIX opened at $182.75 on Monday. The firm has a market capitalization of $10.25 billion, a PE ratio of 77.77, a P/E/G ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 12 month low of $137.94 and a 12 month high of $247.11. The company’s 50 day simple moving average is $166.28 and its 200 day simple moving average is $196.95.

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

Wix.com Company 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.