VTEX (NYSE:VTEX) Trading Up 6.9% – Time to Buy?

Shares of VTEX (NYSE:VTEX) traded up 6.9% during trading on Thursday . The stock traded as high as $5.26 and last traded at $5.20. 101,665 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 564,155 shares. The stock had previously closed at $4.86.

Analyst Ratings Changes

VTEX has been the topic of several analyst reports. Citigroup assumed 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. UBS Group decreased their price target on VTEX from $12.50 to $11.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. reduced their price objective on VTEX from $9.50 to $9.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th.

VTEX Price Performance

The company has a market capitalization of $967.50 million, a price-to-earnings ratio of 87.10 and a beta of 1.41. The firm’s fifty day moving average price is $5.69 and its 200-day moving average price is $6.25.

Institutional Trading of VTEX

A number of hedge funds have recently made changes to their positions in the company. Employees Retirement System of Texas raised its holdings in VTEX by 15.1% in the 4th quarter. Employees Retirement System of Texas now owns 52,238 shares of the company’s stock valued at $308,000 after buying an additional 6,836 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of VTEX by 51.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 76,103 shares of the company’s stock valued at $448,000 after acquiring an additional 25,938 shares during the last quarter. State of Wyoming acquired a new position in shares of VTEX during the fourth quarter worth $45,000. Softbank Group CORP. grew its stake in shares of 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 purchasing an additional 18,559,399 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in VTEX by 22.2% in the fourth quarter. Point72 Asset Management L.P. now owns 32,200 shares of the company’s stock valued at $190,000 after purchasing an additional 5,845 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

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.