Assenagon Asset Management S.A. lifted its position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 26.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,927,369 shares of the company's stock after acquiring an additional 407,177 shares during the quarter. Assenagon Asset Management S.A. owned 0.67% of StoneCo worth $30,915,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of STNE. Quantinno Capital Management LP purchased a new position in StoneCo in the 4th quarter valued at about $103,000. ProShare Advisors LLC lifted its stake in StoneCo by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 80,620 shares of the company's stock valued at $643,000 after buying an additional 26,527 shares in the last quarter. Tidal Investments LLC lifted its stake in StoneCo by 8.8% in the 4th quarter. Tidal Investments LLC now owns 54,763 shares of the company's stock valued at $436,000 after buying an additional 4,417 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in StoneCo by 58.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,278,508 shares of the company's stock valued at $10,190,000 after buying an additional 471,117 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new stake in StoneCo in the 4th quarter valued at about $106,000. 73.19% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on STNE. UBS Group increased their price objective on shares of StoneCo from $15.00 to $20.00 and gave the company a "buy" rating in a report on Friday, August 29th. Bank of America raised their price target on shares of StoneCo from $15.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. JPMorgan Chase & Co. raised their price target on shares of StoneCo from $15.50 to $18.50 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Wall Street Zen downgraded shares of StoneCo from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Finally, Zacks Research upgraded shares of StoneCo to a "strong-buy" rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, StoneCo has an average rating of "Moderate Buy" and a consensus target price of $16.56.
Check Out Our Latest Research Report on StoneCo
StoneCo Stock Down 1.1%
STNE stock traded down $0.22 during midday trading on Monday, hitting $19.19. The company's stock had a trading volume of 6,556,988 shares, compared to its average volume of 4,654,477. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.76. StoneCo Ltd. has a 52-week low of $7.72 and a 52-week high of $19.62. The firm has a market capitalization of $5.49 billion, a P/E ratio of -27.41, a PEG ratio of 0.42 and a beta of 1.91. The firm has a 50-day simple moving average of $15.52 and a 200-day simple moving average of $13.93.
StoneCo (NASDAQ:STNE - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. StoneCo had a negative net margin of 8.37% and a positive return on equity of 18.71%. The company had revenue of $643.82 million during the quarter, compared to analysts' expectations of $3.78 billion. As a group, equities analysts forecast that StoneCo Ltd. will post 1.16 EPS for the current year.
StoneCo Profile
(
Free Report)
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.
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