DLocal Director Sebastian Kanovich Sells 25,700 Shares for $398,350 -- Is the Stock a Sell Too?

DLocal director Sebastian Kanovich sold 25,700 Class A shares for $398,350 on July 7, 2026, under a pre-arranged Rule 10b5-1 trading plan. The sale liquidated his entire direct Class A position but he retains 11.6 million convertible Class B shares. The analyst views this as a non-concerning transaction and remains bullish on DLocal as a dominant fintech payment processor, though notes concerns about declining net take rates.