Sphera Funds Management LTD. Has $8.42 Million Stock Holdings in Wix.com Ltd. (NASDAQ:WIX)

Sphera Funds Management LTD. grew its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,253 shares of the information services provider’s stock after buying an additional 5,000 shares during the quarter. Wix.com accounts for about 1.5% of Sphera Funds Management LTD.’s holdings, making the stock its 22nd biggest position. Sphera Funds Management LTD.’s holdings in Wix.com were worth $8,422,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new position in shares of Wix.com during the fourth quarter valued at about $2,179,000. Quantedge Capital Pte Ltd acquired a new position in shares of Wix.com during the fourth quarter valued at about $4,570,000. Quantinno Capital Management LP grew its holdings in shares of Wix.com by 9.7% during the fourth quarter. Quantinno Capital Management LP now owns 11,393 shares of the information services provider’s stock valued at $2,444,000 after buying an additional 1,008 shares during the last quarter. Man Group plc grew its holdings in shares of Wix.com by 1.5% during the fourth quarter. Man Group plc now owns 643,651 shares of the information services provider’s stock valued at $138,095,000 after buying an additional 9,706 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in shares of Wix.com by 1.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,424 shares of the information services provider’s stock valued at $1,402,000 after buying an additional 96 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Stock Performance

Shares of WIX stock opened at $182.91 on Friday. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of 77.83, a P/E/G ratio of 2.83 and a beta of 1.56. Wix.com Ltd. has a 52 week low of $134.74 and a 52 week high of $247.11. The firm’s 50-day simple moving average is $166.14 and its two-hundred day simple moving average is $196.45.

Wix.com announced that its Board of Directors has approved a stock repurchase program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $235.00 price target on shares of Wix.com in a research report on Wednesday, February 19th. Bank of America raised their price target on shares of Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Cfra Research lowered shares of Wix.com from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 15th. JMP Securities reissued a “market outperform” rating and set a $240.00 price target on shares of Wix.com in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $237.74.

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.