Sphera Management Technology Funds Ltd purchased a new position in Wix.com Ltd. (NASDAQ:WIX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,500 shares of the information services provider's stock, valued at approximately $2,682,000. Wix.com accounts for about 1.6% of Sphera Management Technology Funds Ltd's investment portfolio, making the stock its 12th biggest holding.
Other large investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its stake in Wix.com by 9.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock worth $130,000 after buying an additional 55 shares in the last quarter. Blue Trust Inc. increased its stake in Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after buying an additional 56 shares in the last quarter. Global Retirement Partners LLC increased its stake in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after buying an additional 58 shares in the last quarter. Vestcor Inc increased its stake in Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider's stock worth $183,000 after buying an additional 63 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Wix.com by 9.7% during the 4th quarter. Bessemer Group Inc. now owns 871 shares of the information services provider's stock worth $188,000 after buying an additional 77 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.
Wix.com Trading Down 16.2%
WIX traded down $29.40 during mid-day trading on Wednesday, hitting $152.34. 4,605,866 shares of the stock were exchanged, compared to its average volume of 652,065. The firm's fifty day moving average is $166.16 and its two-hundred day moving average is $196.65. Wix.com Ltd. has a 1-year low of $137.94 and a 1-year high of $247.11. The company has a market cap of $8.55 billion, a PE ratio of 64.83, a PEG ratio of 2.83 and a beta of 1.56.
Wix.com declared that its board has initiated a stock 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 reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group dropped their price target on Wix.com from $265.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Bank of America dropped their price target on Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday. Piper Sandler upped their price target on Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Citigroup dropped their price target on Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Needham & Company LLC restated a "buy" rating and issued a $250.00 price target on shares of Wix.com in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $235.63.
Check Out Our Latest Stock Analysis on Wix.com
Wix.com Company Profile
(
Free Report)
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.
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