Assenagon Asset Management S.A. increased its position in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 1,288.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 577,959 shares of the company's stock after acquiring an additional 536,331 shares during the period. Assenagon Asset Management S.A. owned about 0.23% of StoneCo worth $6,265,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. BRC Global BAH Investments Ltd. purchased a new position in shares of StoneCo in the fourth quarter worth approximately $84,501,000. Pictet Asset Management Holding SA increased its holdings in StoneCo by 131.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 219,614 shares of the company's stock valued at $3,248,000 after buying an additional 124,734 shares during the last quarter. Coronation Fund Managers Ltd. increased its holdings in StoneCo by 71.7% during the fourth quarter. Coronation Fund Managers Ltd. now owns 2,499,733 shares of the company's stock valued at $36,971,000 after buying an additional 1,043,464 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in StoneCo in the fourth quarter worth approximately $3,546,000. Finally, Robeco Institutional Asset Management B.V. raised its position in StoneCo by 25.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,515,851 shares of the company's stock worth $37,209,000 after acquiring an additional 507,431 shares during the period. Hedge funds and other institutional investors own 73.19% of the company's stock.
StoneCo Stock Performance
Shares of NASDAQ STNE opened at $9.96 on Wednesday. The stock has a market cap of $2.48 billion, a PE ratio of 3.98, a price-to-earnings-growth ratio of 0.30 and a beta of 1.74. StoneCo Ltd. has a 1 year low of $9.45 and a 1 year high of $19.95. The firm has a fifty day moving average price of $10.93 and a 200-day moving average price of $12.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.33.
StoneCo (NASDAQ:STNE - Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. The company had revenue of $141.16 million for the quarter, compared to analysts' expectations of $675.11 million. StoneCo had a net margin of 23.82% and a return on equity of 21.05%. Equities analysts anticipate that StoneCo Ltd. will post 2.27 earnings per share 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 dated 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 transaction, the director owned 21,000 shares of the company's stock, valued at $237,090. This represents a 30.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Wall Street Analysts Forecast Growth
STNE has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of StoneCo from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 18th. Jefferies Financial Group began coverage on StoneCo in a research report on Thursday, July 23rd. They set a "hold" rating and a $12.60 target price on the stock. Citigroup lowered StoneCo from a "buy" rating to a "neutral" rating and cut their price target for the company from $18.00 to $11.00 in a report on Friday, May 15th. BTIG Research reduced their price target on StoneCo from $22.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, May 15th. Finally, UBS Group decreased their price objective on StoneCo from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, July 17th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.59.
Read Our Latest Research Report on STNE
About StoneCo
(
Free Report)
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.
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