DLocal (NASDAQ:DLO) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

DLocal Limited (NASDAQ:DLO) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $13.55 and traded as low as $12.87. DLocal shares last traded at $12.96, with a volume of 2,328,470 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on DLO. The Goldman Sachs Group raised their target price on shares of DLocal from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Truist Financial dropped their target price on DLocal from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Finally, Weiss Ratings raised shares of DLocal from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Six analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $19.00.

DLocal Stock Performance

The company has a 50-day moving average of $14.63 and a 200 day moving average of $13.55. The firm has a market cap of $3.82 billion, a P/E ratio of 19.34 and a beta of 0.86.

DLocal (NASDAQ:DLO) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $399.66 million for the quarter, compared to the consensus estimate of $366.77 million. DLocal had a return on equity of 41.64% and a net margin of 15.04%. The business’s revenue for the quarter was up 55.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. Sell-side analysts anticipate that DLocal Limited will post 0.80 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Sebastian Kanovich sold 72,753 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $15.54, for a total transaction of $1,130,581.62. Following the completion of the transaction, the director directly owned 4,700 shares of the company’s stock, valued at approximately $73,038. This represents a 93.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On DLocal

Large investors have recently made changes to their positions in the company. Sterling Capital Management LLC grew its position in DLocal by 847.2% in the third quarter. Sterling Capital Management LLC now owns 3,031 shares of the company’s stock valued at $42,000 after acquiring an additional 2,711 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in DLocal during the 3rd quarter worth approximately $80,000. Parvin Asset Management LLC lifted its stake in DLocal by 51.0% in the 1st quarter. Parvin Asset Management LLC now owns 7,400 shares of the company’s stock valued at $96,000 after purchasing an additional 2,500 shares during the last quarter. R Squared Ltd acquired a new stake in DLocal in the first quarter valued at approximately $135,000. Finally, Mason & Associates Inc acquired a new stake in DLocal in the first quarter valued at approximately $176,000. Institutional investors own 90.13% of the company’s stock.

About DLocal

DLocal is a Uruguay-based financial technology company that provides cross-border payment solutions for businesses operating in emerging markets. Its platform connects global merchants with local payment systems, enabling them to accept payments from consumers and send funds to individuals, businesses and service providers in local currencies.

The company’s services include payment collection, local acquiring, payouts and access to alternative payment methods such as bank transfers, digital wallets and cash-based options.