Jackson Square Partners LLC boosted its position in shares of Arco Platform Ltd (NASDAQ:ARCE) by 0.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,689,032 shares of the company’s stock after purchasing an additional 15,585 shares during the period. Jackson Square Partners LLC owned about 0.08% of Arco Platform worth $54,538,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in ARCE. Daiwa Securities Group Inc. bought a new position in Arco Platform during the 1st quarter valued at about $102,000. Acadian Asset Management LLC bought a new position in Arco Platform during the 4th quarter valued at about $159,000. BNP Paribas Arbitrage SA bought a new position in Arco Platform during the 1st quarter valued at about $174,000. Parametric Portfolio Associates LLC bought a new position in Arco Platform during the 1st quarter valued at about $223,000. Finally, California Public Employees Retirement System bought a new position in Arco Platform during the 1st quarter valued at about $301,000. 90.78% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded shares of Arco Platform from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $27.00.
Arco Platform (NASDAQ:ARCE) last announced its earnings results on Tuesday, May 21st. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.14. The company had revenue of $31.06 million during the quarter. As a group, research analysts expect that Arco Platform Ltd will post 0.61 earnings per share for the current year.
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About Arco Platform
Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform.
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