Royal Bank Of Canada Cuts PICS (NASDAQ:PICS) Price Target to $16.00

PICS (NASDAQ:PICS) had its price objective cut by equities research analysts at Royal Bank Of Canada from $18.00 to $16.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 52.60% from the company’s previous close.

Several other research firms have also issued reports on PICS. Weiss Ratings raised shares of PICS from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Wall Street Zen lowered PICS from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Mizuho set a $18.00 price target on PICS in a research report on Wednesday, June 3rd. Finally, Zacks Research upgraded PICS from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.83.

PICS Stock Down 3.8%

PICS stock opened at $10.48 on Tuesday. The business has a 50 day simple moving average of $11.39. PICS has a 12 month low of $8.32 and a 12 month high of $19.95.

Insider Buying and Selling at PICS

In other PICS news, insider Cazotto Andre Augusto acquired 49,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $9.41 per share, for a total transaction of $465,795.00. Following the completion of the purchase, the insider owned 57,700 shares of the company’s stock, valued at approximately $542,957. This trade represents a 603.66% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Costa Jose Antonio Batista acquired 18,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average cost of $9.47 per share, with a total value of $175,195.00. Following the transaction, the director directly owned 4,373,479 shares in the company, valued at $41,416,846.13. The trade was a 0.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 136,130 shares of company stock worth $1,267,515 over the last ninety days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PICS stock. Readystate Asset Management LP acquired a new stake in PICS (NASDAQ:PICS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 70,000 shares of the company’s stock, valued at approximately $744,000.

About PICS

PicS N.V. operates as a digital financial services company which provides digital wallet and application for individuals and businesses principally in Brazil. It offers a range of transactional products for its consumers, including Pix, an instant payment system, peer-to-peer between PicPay accounts, bill payments, payroll portability, global account and a payment assistant. PicS N.V., formerly known as Picpay Holdings Netherlands B.V., is based in S?o Paulo, Brazil.