ICONIQ Capital LLC purchased a new stake in Netshoes (CAYMAN) Ltd (NASDAQ:NETS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 688,452 shares of the company’s stock, valued at approximately $13,101,000. Netshoes (CAYMAN) comprises 1.3% of ICONIQ Capital LLC’s portfolio, making the stock its 9th biggest position. ICONIQ Capital LLC owned 3.29% of Netshoes (CAYMAN) at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Bamco Inc. NY bought a new stake in Netshoes (CAYMAN) during the 2nd quarter worth approximately $211,000. LMR Partners LLP acquired a new position in Netshoes (CAYMAN) during the 2nd quarter worth approximately $859,000. Ameriprise Financial Inc. acquired a new position in Netshoes (CAYMAN) during the 2nd quarter worth approximately $890,000. Laurion Capital Management LP acquired a new position in Netshoes (CAYMAN) during the 2nd quarter worth approximately $1,142,000. Finally, FIL Ltd acquired a new position in Netshoes (CAYMAN) during the 2nd quarter worth approximately $1,864,000.
A number of equities analysts have weighed in on NETS shares. Zacks Investment Research raised Netshoes (CAYMAN) from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Tuesday, July 11th. Jefferies Group LLC downgraded Netshoes (CAYMAN) from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.90.
Shares of Netshoes (NASDAQ:NETS) traded down 4.60% on Tuesday, hitting $11.40. The company had a trading volume of 31,991 shares. The firm’s market capitalization is $267.16 million. Netshoes has a 1-year low of $10.52 and a 1-year high of $26.96. The company has a 50 day moving average price of $12.93 and a 200 day moving average price of $16.83.
Netshoes (CAYMAN) (NASDAQ:NETS) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.22). Netshoes (CAYMAN) had a negative net margin of 7.62% and a negative return on equity of 41.82%. The business had revenue of $139.45 million for the quarter, compared to analysts’ expectations of $153.48 million. On average, equities analysts forecast that Netshoes will post ($1.13) earnings per share for the current fiscal year.
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About Netshoes (CAYMAN)
Netshoes (Cayman) Limited is a sports and lifestyle online retailer in Latin America. The Company focuses on offering an online consumer platform in Latin America. The Company operates through two segments: Brazil and International. The Company operates in Brazil, Argentina, and Mexico. The Brazil segment consists of retail sales of consumer products from all of its verticals (which includes sales of sporting goods and related garments, as well as fashion and beauty goods) carried out through its sites Netshoes.com.br and Zattini.com.br and third-party sites that it manages, as well as its business to business offline operation.
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