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

VTEX (NYSE:VTEX)’s stock price shot up 6.8% on Wednesday . The stock traded as high as $6.87 and last traded at $6.84. 802,364 shares traded hands during trading, an increase of 21% from the average session volume of 663,610 shares. The stock had previously closed at $6.40.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VTEX. JPMorgan Chase & Co. dropped their price target on VTEX from $9.50 to $9.00 and set an “overweight” rating for the company in a report on Friday, January 10th. UBS Group dropped their price target on VTEX from $12.50 to $11.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Citigroup assumed coverage on VTEX in a report on Thursday, December 5th. They issued a “neutral” rating and a $6.70 price objective for the company.

VTEX Trading Down 4.2 %

The company has a 50 day moving average price of $6.18 and a 200-day moving average price of $6.62. The company has a market cap of $1.18 billion, a P/E ratio of 107.27 and a beta of 1.36.

Hedge Funds Weigh In On VTEX

Several hedge funds and other institutional investors have recently modified their holdings of VTEX. Softbank Group CORP. increased 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 last quarter. Millennium Management LLC increased its stake in shares of VTEX by 371.2% in the 4th quarter. Millennium Management LLC now owns 2,599,366 shares of the company’s stock valued at $15,310,000 after purchasing an additional 2,047,671 shares during the last quarter. Polar Capital Holdings Plc increased its stake in shares of VTEX by 21.8% in the 4th quarter. Polar Capital Holdings Plc now owns 5,229,168 shares of the company’s stock valued at $30,800,000 after purchasing an additional 936,551 shares during the last quarter. Nuveen Asset Management LLC grew its position in VTEX by 1,082.4% during the 4th quarter. Nuveen Asset Management LLC now owns 876,508 shares of the company’s stock worth $5,163,000 after acquiring an additional 802,381 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in VTEX by 2,128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 558,216 shares of the company’s stock worth $4,144,000 after acquiring an additional 533,163 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

About VTEX

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.