Wells Fargo & Company MN reduced its stake in shares of PagSeguro Digital Ltd (NYSE:PAGS) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 475,258 shares of the company’s stock after selling 57,677 shares during the quarter. Wells Fargo & Company MN’s holdings in PagSeguro Digital were worth $13,149,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Sterling Capital Management LLC raised its position in PagSeguro Digital by 47.5% in the third quarter. Sterling Capital Management LLC now owns 100,961 shares of the company’s stock valued at $2,794,000 after purchasing an additional 32,522 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in PagSeguro Digital in the third quarter valued at $41,505,000. First Trust Advisors LP raised its position in PagSeguro Digital by 543.8% in the third quarter. First Trust Advisors LP now owns 78,412 shares of the company’s stock valued at $2,170,000 after purchasing an additional 66,232 shares during the period. Seven Eight Capital LP purchased a new stake in PagSeguro Digital in the third quarter valued at $5,360,000. Finally, Essex Investment Management Co. LLC purchased a new stake in PagSeguro Digital in the third quarter valued at $269,000.
PAGS stock opened at $21.36 on Friday. The firm has a market capitalization of $2.61 billion and a P/E ratio of 37.47. PagSeguro Digital Ltd has a 12-month low of $20.02 and a 12-month high of $39.97.
A number of equities research analysts have commented on PAGS shares. ValuEngine upgraded PagSeguro Digital from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Zacks Investment Research downgraded PagSeguro Digital from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. KeyCorp cut their price objective on PagSeguro Digital from $42.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday, November 30th. Citigroup upgraded PagSeguro Digital from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Tuesday, November 27th. Finally, Deutsche Bank cut their price objective on PagSeguro Digital from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, August 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $33.75.
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PagSeguro Digital Profile
PagSeguro Digital Ltd. provides financial technology solutions and services for micro-merchants, and small and medium-sized businesses in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, an end-to-end 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; and Free PagSeguro digital account, which centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem.
Further Reading: Return on Equity (ROE)
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