Coronation Fund Managers Ltd. Increases Stake in StoneCo Ltd. $STNE

Key Points

• Coronation Fund Managers Ltd. increased its stake in StoneCo Ltd. by 13.9%, owning 2,082,789 shares valued at around $33.4 million, making it the 17th largest position in their investment portfolio.
• Analysts have upgraded StoneCo's stock rating, with Goldman Sachs setting a price objective of $21.00 and Bank of America raising it to $25.00, providing an optimistic outlook for future performance.
• StoneCo reported earnings of $0.39 per share for its latest quarter, surpassing estimates and indicating a positive return on equity despite a negative net margin.

Coronation Fund Managers Ltd. boosted its stake in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 13.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,082,789 shares of the company's stock after purchasing an additional 254,075 shares during the period. StoneCo comprises 1.8% of Coronation Fund Managers Ltd.'s investment portfolio, making the stock its 17th largest position. Coronation Fund Managers Ltd. owned 0.73% of StoneCo worth $33,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Atmos Capital Gestao DE Recursos LTDA. increased its stake in StoneCo by 3.1% in the 1st quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 11,982,873 shares of the company's stock worth $125,581,000 after purchasing an additional 359,037 shares during the period. Nuveen LLC bought a new stake in shares of StoneCo in the 1st quarter worth approximately $70,502,000. JGP Global Gestao de Recursos Ltda. grew its position in shares of StoneCo by 484.8% in the 1st quarter. JGP Global Gestao de Recursos Ltda. now owns 4,472,738 shares of the company's stock worth $46,874,000 after buying an additional 3,707,941 shares during the last quarter. Azora Capital LP grew its position in shares of StoneCo by 15.9% in the 1st quarter. Azora Capital LP now owns 2,583,510 shares of the company's stock worth $27,075,000 after buying an additional 355,192 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of StoneCo by 26.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,927,369 shares of the company's stock worth $30,915,000 after buying an additional 407,177 shares during the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Trading Up 4.5%

NASDAQ STNE opened at $18.66 on Tuesday. 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 twelve month low of $7.72 and a twelve month high of $19.95. The firm has a market capitalization of $5.34 billion, a PE ratio of -26.66, a P/E/G ratio of 0.35 and a beta of 1.99. The stock's 50 day moving average is $17.33 and its 200 day moving average is $15.00.

StoneCo (NASDAQ:STNE - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate 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. Research analysts forecast that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded StoneCo from a "hold" rating to a "buy" rating in a research report on Sunday. Zacks Research upgraded StoneCo to a "strong-buy" rating in a research report on Tuesday, August 12th. The Goldman Sachs Group lifted their price objective on StoneCo from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, October 14th. Weiss Ratings reiterated a "sell (d+)" rating on shares of StoneCo in a research report on Wednesday, October 8th. Finally, Bank of America lifted their price target on StoneCo from $15.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $17.44.

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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