Principal Financial Group Inc. Invests $735,000 in VTEX $VTEX

Principal Financial Group Inc. bought a new stake in VTEX (NYSE:VTEX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 167,709 shares of the company’s stock, valued at approximately $735,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in VTEX by 2,007.5% during the 2nd quarter. Legal & General Group Plc now owns 276,995 shares of the company’s stock worth $1,828,000 after buying an additional 263,852 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of VTEX by 8.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,596,050 shares of the company’s stock worth $10,534,000 after acquiring an additional 126,875 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of VTEX in the second quarter valued at about $464,000. Norges Bank acquired a new position in shares of VTEX in the second quarter valued at approximately $2,670,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in VTEX during the 2nd quarter worth $311,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

VTEX Price Performance

Shares of VTEX stock opened at $3.04 on Thursday. The firm has a fifty day simple moving average of $3.47 and a 200-day simple moving average of $3.99. The company has a market capitalization of $554.80 million, a PE ratio of 33.73 and a beta of 1.34. VTEX has a twelve month low of $2.96 and a twelve month high of $6.89. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on VTEX from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Weiss Ratings restated a “hold (c-)” rating on shares of VTEX in a research report on Friday, January 9th. UBS Group downgraded shares of VTEX from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $4.00 in a report on Wednesday, January 14th. Finally, Wall Street Zen upgraded VTEX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.16.

VTEX Profile

VTEX is a global commerce platform provider that offers a full suite of software-as-a-service (SaaS) solutions designed to power online retail and marketplace operations. Its cloud-native platform combines e-commerce, order management and marketplace capabilities in a single environment, enabling brands and retailers to launch and scale digital commerce initiatives without the need for extensive in-house infrastructure. The company’s API-first architecture and microservices design support headless implementations, allowing businesses to integrate front-end experiences, third-party applications and custom modules with minimal development overhead.

Founded in 1999 and headquartered in São Paulo, Brazil, VTEX has expanded its reach to serve customers across Latin America, North America, Europe and Asia-Pacific.