Adyen N.V. (ADYEY) Rebounded After Clarifying Strategy
NZS Capital, LLC, an investment management company, released its “NZS Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The flagship strategy was up 16% (net) compared to 11% for the Morningstar Global Target Market Exposure (NR) index. An increasing consensus on rate cuts in 2024 created a positive backdrop for growth equities. The Magnificent Seven, who had outperformed the market for three quarters, fared similarly in the fourth quarter, benefiting active managers who avoided chasing momentum bets. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
NZS Capital featured stocks such as Adyen N.V. (OTC:ADYEY) in its Q4 2023 investor letter. Headquartered in Amsterdam, the Netherlands, Adyen N.V. (OTC:ADYEY) is a payments platform. On February 9, 2024, Adyen N.V. (OTC:ADYEY) stock closed at $15.95 per share. One-month return of Adyen N.V. (OTC:ADYEY) was 21.39%, and its shares gained 10.08% of their value over the last 52 weeks. Adyen N.V. (OTC:ADYEY) has a market capitalization of $49.498 billion.
NZS Capital stated the following regarding Adyen N.V. (OTC:ADYEY) in its fourth quarter 2023 investor letter:
"While sectors exposures generally helped, the portfolio seeks to add value through stock selection. Notably, Adyen N.V. (OTC:ADYEY) was another large contributor. A detractor in the third quarter, the Dutch payment services company rebounded after the company clarified its strategy after presenting a disappointing outlook earlier in the year."
A customer making a purchase at a modern retail store terminal, showing the ubiquity of the company’s payment solutions.
Adyen N.V. (OTC:ADYEY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 2 hedge fund portfolios held Adyen N.V. (OTC:ADYEY) at the end of third quarter which was 2 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
