Bowie Capital Management LLC has reduced its stake in PagSeguro Digital Ltd. 56.3% in the first quarter, according to a 13F filing with the SEC. The investment firm sold 450,000 shares, leaving it with 350,000 shares of the company’s stock. This represents about 0.3% of Bowie Capital Management’s investment portfolio, making it the 28th largest holding for the firm. The total value of Bowie Capital Management’s stake in PagSeguro Digital is estimated at $3 million.
Several other institutional investors have also made changes to their positions in PagSeguro Digital. Norges Bank acquired a new stake in the company in the fourth quarter, while Point72 Asset Management, Capital World Investors, Sylebra Capital, and ANTIPODES PARTNERS also increased their holdings.
Analysts have weighed in on PagSeguro Digital, with one downgrading the stock and cutting its target price, while others have increased their target prices. MarketBeat.com reports that the stock has an average rating of “Hold” and an average price target of $12.50.
PagSeguro Digital traded up 0.9% on the NYSE, reaching $8.65 per share. The company has a market capitalization of $2.85 billion and a price-to-earnings ratio of 9.32. PagSeguro Digital offers financial technology solutions and services in Brazil and internationally. These include a digital ecosystem for financial needs, a mobile app for payment and banking services, and a tool for medium-sized and larger merchants to connect their point-of-sale devices.
– SEC filing: Bowie Capital Management LLC 13F filing with the SEC.
– MarketBeat.com: Analyst ratings and target prices for PagSeguro Digital Ltd.