StoneCo Ltd. (NASDAQ:STNE) Position Lowered by Absolute Gestao de Investimentos Ltda.

Absolute Gestao de Investimentos Ltda. decreased its holdings in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 81.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 342,206 shares of the company's stock after selling 1,517,510 shares during the quarter. StoneCo comprises about 1.2% of Absolute Gestao de Investimentos Ltda.'s portfolio, making the stock its 12th biggest holding. Absolute Gestao de Investimentos Ltda. owned approximately 0.11% of StoneCo worth $2,727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in STNE. Barclays PLC lifted its position in StoneCo by 170.8% in the third quarter. Barclays PLC now owns 440,682 shares of the company's stock valued at $4,962,000 after buying an additional 277,963 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of StoneCo during the third quarter worth $567,000. Synovus Financial Corp increased its holdings in shares of StoneCo by 100.0% in the 3rd quarter. Synovus Financial Corp now owns 29,228 shares of the company's stock valued at $329,000 after acquiring an additional 14,614 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of StoneCo by 327.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,580,679 shares of the company's stock valued at $17,798,000 after buying an additional 1,210,817 shares in the last quarter. Finally, Commons Capital LLC acquired a new stake in shares of StoneCo during the fourth quarter worth about $383,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.

StoneCo Price Performance

Shares of StoneCo stock traded down $0.04 during trading on Tuesday, hitting $13.30. 3,171,628 shares of the company were exchanged, compared to its average volume of 5,720,274. StoneCo Ltd. has a fifty-two week low of $7.72 and a fifty-two week high of $17.03. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 0.41 and a beta of 2.01. The firm has a 50 day moving average price of $11.22 and a 200 day moving average price of $10.07. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47.

StoneCo (NASDAQ:STNE - Get Free Report) last issued its earnings results on Tuesday, March 18th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. StoneCo had a return on equity of 13.92% and a net margin of 16.02%. The firm had revenue of $582.20 million for the quarter, compared to analysts' expectations of $3.59 billion. On average, equities analysts expect that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on STNE. Citigroup raised StoneCo from a "neutral" rating to a "buy" rating and upped their price objective for the company from $9.00 to $15.00 in a research note on Tuesday, April 22nd. Barclays upped their price objective on shares of StoneCo from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company raised shares of StoneCo from an "equal weight" rating to an "overweight" rating in a report on Wednesday, March 19th. The Goldman Sachs Group reduced their price objective on shares of StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Finally, Morgan Stanley boosted their target price on StoneCo from $5.70 to $6.00 and gave the stock an "underweight" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.38.

About StoneCo

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.