AdvisorNet Financial Inc reduced its holdings in shares of PagSeguro Digital Ltd. (NYSE:PAGS – Get Rating) by 29.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,318 shares of the company’s stock after selling 2,220 shares during the period. AdvisorNet Financial Inc’s holdings in PagSeguro Digital were worth $54,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its stake in PagSeguro Digital by 6.1% during the first quarter. Truist Financial Corp now owns 16,758 shares of the company’s stock worth $336,000 after purchasing an additional 962 shares during the last quarter. HighTower Advisors LLC lifted its stake in PagSeguro Digital by 8.7% during the first quarter. HighTower Advisors LLC now owns 21,809 shares of the company’s stock worth $436,000 after purchasing an additional 1,748 shares during the last quarter. Castleark Management LLC lifted its stake in PagSeguro Digital by 10.1% during the fourth quarter. Castleark Management LLC now owns 19,590 shares of the company’s stock worth $514,000 after purchasing an additional 1,800 shares during the last quarter. Sei Investments Co. lifted its stake in PagSeguro Digital by 0.7% during the first quarter. Sei Investments Co. now owns 269,645 shares of the company’s stock worth $5,403,000 after purchasing an additional 1,884 shares during the last quarter. Finally, Wealth Alliance lifted its stake in PagSeguro Digital by 20.1% during the first quarter. Wealth Alliance now owns 12,373 shares of the company’s stock worth $248,000 after purchasing an additional 2,074 shares during the last quarter. 47.74% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on PAGS. Piper Sandler reduced their price objective on PagSeguro Digital from $22.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Citigroup dropped their target price on PagSeguro Digital from $26.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft dropped their target price on PagSeguro Digital from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, August 26th. Wells Fargo & Company dropped their target price on PagSeguro Digital from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 8th. Finally, The Goldman Sachs Group increased their target price on PagSeguro Digital from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 6th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, PagSeguro Digital has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.
PagSeguro Digital Stock Down 6.4 %
PagSeguro Digital (NYSE:PAGS – Get Rating) last released its earnings results on Thursday, August 25th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.25. The firm had revenue of $794.63 million for the quarter, compared to analyst estimates of $731.04 million. PagSeguro Digital had a return on equity of 18.53% and a net margin of 10.03%. During the same period in the previous year, the company earned $0.20 earnings per share. Sell-side analysts expect that PagSeguro Digital Ltd. will post 0.92 EPS for the current year.
PagSeguro Digital Company Profile
PagSeguro Digital Ltd., together with its subsidiaries, provides financial technology solutions and services for consumers, individual entrepreneurs, micro-merchants, and small and medium-sized companies in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, a digital ecosystem that operates as a closed loop where its clients are able to address their primary day to day financial needs, including receiving and spending funds, and managing and growing their businesses; PagBank digital account, which offers banking services through the PagBank mobile app, as well as centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem; and PlugPag, a tool for medium-sized and larger merchants that enables them to connect their point of sale (POS) device directly to their enterprise resource planning software or sales automation system through Bluetooth.
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