VTEX (NYSE:VTEX) Trading 6.8% Higher – Here’s Why

Shares of VTEX (NYSE:VTEX) shot up 6.8% during mid-day trading on Wednesday . The company traded as high as $6.87 and last traded at $6.84. Approximately 802,364 shares were traded 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

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

VTEX Trading Up 4.0 %

The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 110.94 and a beta of 1.36. The stock has a 50-day simple moving average of $6.17 and a 200-day simple moving average of $6.61.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VTEX. Softbank Group CORP. lifted its holdings in VTEX by 93.4% in the fourth quarter. Softbank Group CORP. now owns 38,434,587 shares of the company’s stock worth $226,380,000 after acquiring an additional 18,559,399 shares during the last quarter. Millennium Management LLC lifted its holdings 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 worth $15,310,000 after purchasing an additional 2,047,671 shares during the last quarter. Polar Capital Holdings Plc boosted its position in VTEX by 21.8% during 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 period. Nuveen Asset Management LLC grew its stake 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 buying an additional 802,381 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in 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 buying an additional 533,163 shares during the period. 63.69% of the stock is currently owned by institutional investors.

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.