130,000 Shares in StoneCo Ltd. $STNE Bought by Lombard Odier Asset Management Europe Ltd

Key Points

• Lombard Odier Asset Management Europe purchased 130,000 StoneCo shares worth approximately $1.84 million, joining other institutional investors that increased or initiated positions. Institutional investors and hedge funds collectively own 73.19% of the company.
• Analysts remain mixed on StoneCo, with four Buy ratings and six Holds. The consensus rating is Hold, while the average price target is $14.59 after several analysts reduced their targets.
• StoneCo shares opened at $10.76, near the lower end of their 52-week range of $9.45 to $19.95. The company met quarterly earnings expectations at $0.42 per share and reported a 23.82% net margin.

Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 130,000 shares of the company's stock, valued at approximately $1,836,000. Lombard Odier Asset Management Europe Ltd owned 0.05% of StoneCo as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. AQR Capital Management LLC purchased a new position in shares of StoneCo in the 1st quarter valued at about $902,000. Strs Ohio purchased a new position in StoneCo during the first quarter worth approximately $70,000. Prudential Financial Inc. grew its holdings in StoneCo by 37.4% in the second quarter. Prudential Financial Inc. now owns 28,075 shares of the company's stock valued at $450,000 after purchasing an additional 7,635 shares during the period. Invesco Ltd. grew its holdings in StoneCo by 8.3% in the second quarter. Invesco Ltd. now owns 256,142 shares of the company's stock valued at $4,109,000 after purchasing an additional 19,723 shares during the period. Finally, First Trust Advisors LP increased its position in shares of StoneCo by 10.0% in the second quarter. First Trust Advisors LP now owns 13,995 shares of the company's stock valued at $224,000 after buying an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 73.19% of the company's stock.

Analyst Upgrades and Downgrades

STNE has been the topic of a number of research analyst reports. Citigroup cut shares of StoneCo from a "buy" rating to a "neutral" rating and dropped their price target for the company from $18.00 to $11.00 in a research note on Friday, May 15th. BTIG Research reduced their price objective on shares of StoneCo from $22.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, May 15th. Weiss Ratings downgraded shares of StoneCo from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 18th. UBS Group dropped their target price on shares of StoneCo from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. cut their target price on shares of StoneCo from $20.00 to $16.50 and set an "overweight" rating for the company in a research note on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $14.59.

StoneCo Price Performance

StoneCo stock opened at $10.76 on Monday. The company has a fifty day simple moving average of $10.96 and a 200-day simple moving average of $13.28. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 4.30, a PEG ratio of 0.32 and a beta of 1.73. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. StoneCo Ltd. has a 52-week low of $9.45 and a 52-week high of $19.95.

StoneCo (NASDAQ:STNE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. StoneCo had a net margin of 23.82% and a return on equity of 21.05%. The firm had revenue of $141.16 million for the quarter, compared to the consensus estimate of $675.11 million. On average, equities analysts anticipate that StoneCo Ltd. will post 2.27 EPS for the current fiscal year.

Insider Buying and Selling at StoneCo

In other news, Director Silvio Jose Morais sold 9,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $11.29, for a total value of $101,610.00. Following the completion of the sale, the director directly owned 21,000 shares in the company, valued at $237,090. This represents a 30.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

StoneCo Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil's retail, restaurant and services sectors.

Want to see what other hedge funds are holding STNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for StoneCo Ltd. (NASDAQ:STNE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.