Zacks Investment Research downgraded shares of Arco Platform (NASDAQ:ARCE) from a strong-buy rating to a hold rating in a report published on Thursday.
According to Zacks, “Arco Platform Limited develops educational software. The Company offers a platform which delivers educational content in printed and digital formats. Arco Platform Limited is based in Vila Olimpia Sao Paulo, Brazil. “
Separately, UBS Group began coverage on shares of Arco Platform in a research note on Wednesday, November 21st. They issued a buy rating and a $28.00 price target on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $27.00.
Several hedge funds have recently bought and sold shares of the company. FMR LLC acquired a new stake in shares of Arco Platform in the third quarter valued at approximately $51,534,000. Jackson Square Partners LLC acquired a new stake in shares of Arco Platform in the third quarter valued at approximately $25,890,000. BlackRock Inc. boosted its holdings in shares of Arco Platform by 5.5% in the fourth quarter. BlackRock Inc. now owns 1,065,871 shares of the company’s stock valued at $23,577,000 after acquiring an additional 55,405 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Arco Platform by 40.7% in the fourth quarter. Victory Capital Management Inc. now owns 828,909 shares of the company’s stock valued at $18,335,000 after acquiring an additional 239,879 shares during the period. Finally, Bamco Inc. NY acquired a new stake in shares of Arco Platform in the third quarter valued at approximately $8,388,000.
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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