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

Sphera Funds Management LTD. increased its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 14.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,253 shares of the information services provider's stock after acquiring an additional 5,000 shares during the period. Wix.com comprises 1.5% of Sphera Funds Management LTD.'s holdings, making the stock its 22nd largest holding. Sphera Funds Management LTD. owned approximately 0.07% of Wix.com worth $8,422,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Wix.com during the 4th quarter worth approximately $256,000. Bank of New York Mellon Corp boosted its position in shares of Wix.com by 9.7% during the 4th quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider's stock worth $26,738,000 after acquiring an additional 11,048 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Wix.com by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider's stock worth $22,603,000 after acquiring an additional 5,286 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Wix.com during the 4th quarter worth approximately $321,000. Finally, Van ECK Associates Corp boosted its position in shares of Wix.com by 0.6% during the 4th quarter. Van ECK Associates Corp now owns 16,946 shares of the information services provider's stock worth $3,636,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wall Street Analysts Forecast Growth

WIX has been the topic of several analyst reports. JPMorgan Chase & Co. reduced 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. Oppenheimer cut their target price on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. JMP Securities restated a "market outperform" rating and issued a $240.00 target price on shares of Wix.com in a research report on Tuesday, February 18th. Citigroup cut their target price on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Bank of America raised their target price 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. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $236.95.

Wix.com Price Performance

NASDAQ WIX traded down $2.53 during mid-day trading on Monday, reaching $180.22. 456,922 shares of the stock were exchanged, compared to its average volume of 656,268. Wix.com Ltd. has a one year low of $137.94 and a one year high of $247.11. The stock has a 50 day simple moving average of $166.38 and a 200-day simple moving average of $197.06. The stock has a market cap of $10.11 billion, a P/E ratio of 76.69, a P/E/G ratio of 2.83 and a beta of 1.56.

Wix.com declared that its Board of Directors has authorized a share repurchase program on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are 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.