Bayforest Capital Ltd Purchases Shares of 19,739 StoneCo Ltd. $STNE

Key Points

• Bayforest Capital Ltd acquired a new stake in StoneCo Ltd, purchasing 19,739 shares valued at approximately $317,000 during the second quarter.
• Several analysts have recently raised their price targets for StoneCo, with UBS Group increasing it from $15.00 to $20.00, while Goldman Sachs raised it from $19.00 to $21.00, indicating a positive outlook for the company.
• StoneCo reported earnings of $0.39 per share in its last quarterly announcement, beating expectations, and has a consensus target price of $17.44 among analysts.

Bayforest Capital Ltd purchased a new stake in StoneCo Ltd. (NASDAQ:STNE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,739 shares of the company's stock, valued at approximately $317,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Signaturefd LLC grew its holdings in shares of StoneCo by 10.2% during the second quarter. Signaturefd LLC now owns 8,492 shares of the company's stock worth $136,000 after purchasing an additional 784 shares during the last quarter. Xponance Inc. grew its holdings in shares of StoneCo by 4.7% during the first quarter. Xponance Inc. now owns 21,762 shares of the company's stock worth $228,000 after purchasing an additional 981 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of StoneCo by 43.6% during the second quarter. GAMMA Investing LLC now owns 4,170 shares of the company's stock worth $67,000 after purchasing an additional 1,267 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of StoneCo by 18.4% during the first quarter. PNC Financial Services Group Inc. now owns 8,473 shares of the company's stock worth $89,000 after purchasing an additional 1,317 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of StoneCo by 44.7% during the second quarter. CWM LLC now owns 4,565 shares of the company's stock worth $73,000 after purchasing an additional 1,411 shares during the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on STNE shares. UBS Group raised their price objective on StoneCo from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, August 29th. JPMorgan Chase & Co. raised their price objective on StoneCo from $15.50 to $18.50 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Zacks Research raised StoneCo to a "strong-buy" rating in a report on Tuesday, August 12th. The Goldman Sachs Group raised their price target on StoneCo from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Wall Street Zen lowered StoneCo from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, StoneCo currently has an average rating of "Moderate Buy" and a consensus target price of $17.44.

StoneCo Stock Performance

NASDAQ STNE opened at $17.97 on Thursday. 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 $19.95. The business's 50-day moving average price is $17.09 and its 200 day moving average price is $14.79. The firm has a market cap of $5.14 billion, a P/E ratio of -25.67, a P/E/G ratio of 0.35 and a beta of 1.99.

StoneCo (NASDAQ:STNE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.03. StoneCo had a positive return on equity of 18.71% and a negative net margin of 8.37%.The company had revenue of $643.82 million for the quarter, compared to analyst estimates of $3.78 billion. On average, equities research analysts expect that StoneCo Ltd. will post 1.16 earnings per share for the current year.

StoneCo Company Profile

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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