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Baron Funds: “We Remain Confident in DLocal (DLO)’s Ability to Deliver High Growth with Attractive Profitability”

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Baron Funds, an asset management firm, published its “Baron FinTech Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. A return of 2.53% was delivered by the fund’s institutional shares for the fourth quarter of 2021, compared to its benchmarks, the S&P 500 Index, which appreciated 11.03%, and the FactSet Global FinTech Index which rose 7.68% for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Baron FinTech Fund, in its Q4 2021 investor letter, mentioned DLocal Limited (NASDAQ:DLO) and discussed its stance on the firm. Founded in 2016, DLocal Limited (NASDAQ:DLO) is an Uruguay-based financial technology company with a $7.9 billion market capitalization and is currently spearheaded by its CEO, Sebastián Kanovich. DLocal Limited (NASDAQ:DLO) delivered a -24.07% and it closed at $25.83 per share on March 14, 2022.

Here is what Baron FinTech Fund has to say about DLocal Limited (NASDAQ:DLO) in its Q4 2021 investor letter:

"DLocal Limited processes online payments in developing countries for large global merchants, such as Google, Microsoft, Amazon, Facebook, and Netflix. The company’s strong growth continued in the third quarter with payment volume tripling and revenue doubling with a 185% net revenue retention rate. However, shares fell due to a lower gross margin, which was driven by volume mix shifts and tier-based pricing discounts for existing merchants. We remain confident in DLocal’s ability to deliver high growth with attractive profitability as the market opportunity is significant and the company provides a superior service."

Finance
Finance

Our calculations show that DLocal Limited (NASDAQ:DLO) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. DLocal Limited (NASDAQ:DLO) was in 18 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 19 funds in the previous quarter. DLocal Limited (NASDAQ:DLO) delivered a -22.99% return in the past 3 months.

In December 2021, we published an article that includes DLocal Limited (NASDAQ:DLO) in the 5 Latest Stock Picks of Legendary Investor Julian Robertson’s Tiger Management. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.

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