VTEX (NYSE:VTEX) Shares Up 6.8% – Here’s Why

Shares of VTEX (NYSE:VTEXGet Free Report) rose 6.8% on Wednesday . The company traded as high as $6.87 and last traded at $6.84. Approximately 802,364 shares changed hands during trading, an increase of 21% from the average daily volume of 663,610 shares. The stock had previously closed at $6.40.

Analysts Set New Price Targets

VTEX has been the topic of a number of research reports. Citigroup began coverage on VTEX in a research report on Thursday, December 5th. They set a “neutral” rating and a $6.70 price objective on the stock. UBS Group cut their target price on VTEX from $12.50 to $11.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. cut their target price on VTEX from $9.50 to $9.00 and set an “overweight” rating on the stock in a report on Friday, January 10th.

Get Our Latest Research Report on VTEX

VTEX Stock Performance

The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 107.27 and a beta of 1.36. The company has a fifty day simple moving average of $6.18 and a 200 day simple moving average of $6.62.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VTEX. Softbank Group CORP. lifted its stake in shares of VTEX by 93.4% in the 4th quarter. Softbank Group CORP. now owns 38,434,587 shares of the company’s stock valued at $226,380,000 after purchasing an additional 18,559,399 shares during the period. Millennium Management LLC boosted its holdings in VTEX by 371.2% in the fourth quarter. Millennium Management LLC now owns 2,599,366 shares of the company’s stock worth $15,310,000 after acquiring an additional 2,047,671 shares in the last quarter. Polar Capital Holdings Plc raised its stake in shares of VTEX by 21.8% in the fourth quarter. Polar Capital Holdings Plc now owns 5,229,168 shares of the company’s stock worth $30,800,000 after purchasing an additional 936,551 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of VTEX by 1,082.4% in the fourth quarter. Nuveen Asset Management LLC now owns 876,508 shares of the company’s stock worth $5,163,000 after purchasing an additional 802,381 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of VTEX by 2,128.1% in the third quarter. Janus Henderson Group PLC now owns 558,216 shares of the company’s stock worth $4,144,000 after purchasing an additional 533,163 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

VTEX Company Profile

(Get Free Report)

VTEX provides software-as-a-service digital commerce platform for enterprise brands and retailers. Its platform enables customers to execute their commerce strategy, including building online stores, integrating, and managing orders across channels, and creating marketplaces to sell products from third-party vendors.

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