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

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

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

PICS Trading Down 3.8%

NASDAQ PICS opened at $10.48 on Tuesday. The stock has a fifty day moving average of $11.39. PICS has a 52-week low of $8.32 and a 52-week high of $19.95.

Insider Buying and Selling at PICS

In related news, Director Costa Jose Antonio Batista acquired 18,500 shares of the stock in a transaction dated Wednesday, June 10th. The shares were bought at an average cost of $9.47 per share, for a total transaction of $175,195.00. Following the purchase, the director owned 4,373,479 shares in the company, valued at approximately $41,416,846.13. This trade represents a 0.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Rodney Pruett bought 25,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $9.10 per share, with a total value of $227,500.00. Following the completion of the acquisition, the director owned 25,000 shares in the company, valued at $227,500. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 136,130 shares of company stock valued at $1,267,515.

Institutional Inflows and Outflows

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

PICS Company Profile

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.