Franklin Resources Inc. Sells 28,385 Shares of PagSeguro Digital Ltd. (NYSE:PAGS)

Franklin Resources Inc. lowered its holdings in shares of PagSeguro Digital Ltd. (NYSE:PAGS) by 21.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,839 shares of the company’s stock after selling 28,385 shares during the period. Franklin Resources Inc.’s holdings in PagSeguro Digital were worth $894,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of PagSeguro Digital by 8.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 646,392 shares of the company’s stock worth $7,556,000 after purchasing an additional 50,643 shares in the last quarter. Principal Financial Group Inc. raised its stake in PagSeguro Digital by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 326,395 shares of the company’s stock worth $3,816,000 after buying an additional 41,376 shares during the period. nVerses Capital LLC bought a new position in PagSeguro Digital in the second quarter worth approximately $195,000. Waterfront Wealth Inc. grew its position in PagSeguro Digital by 330.9% in the 2nd quarter. Waterfront Wealth Inc. now owns 75,133 shares of the company’s stock valued at $878,000 after purchasing an additional 57,696 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new stake in PagSeguro Digital during the 2nd quarter valued at $2,455,000. 45.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on PagSeguro Digital from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. KeyCorp upgraded shares of PagSeguro Digital to a “hold” rating in a research note on Friday, November 15th. The Goldman Sachs Group reduced their target price on PagSeguro Digital from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 15th. Susquehanna reduced their price target on shares of PagSeguro Digital from $19.00 to $16.00 and set a “positive” rating for the company in a research report on Monday, November 18th. Finally, Morgan Stanley reissued an “underweight” rating and set a $6.50 target price (down from $14.00) on shares of PagSeguro Digital in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.00.

PagSeguro Digital Price Performance

NYSE:PAGS opened at $6.38 on Monday. PagSeguro Digital Ltd. has a 1 year low of $6.11 and a 1 year high of $14.98. The stock’s fifty day moving average price is $7.56 and its two-hundred day moving average price is $9.82. The company has a market cap of $2.10 billion, a P/E ratio of 5.27, a P/E/G ratio of 0.44 and a beta of 1.92.

PagSeguro Digital 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 payment and 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.