Edgestream Partners L.P. Purchases 272,167 Shares of StoneCo Ltd. (NASDAQ:STNE)

Edgestream Partners L.P. grew its position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 469.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330,185 shares of the company's stock after purchasing an additional 272,167 shares during the period. Edgestream Partners L.P. owned about 0.11% of StoneCo worth $3,460,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in StoneCo by 143.0% during the first quarter. Harbor Capital Advisors Inc. now owns 4,614 shares of the company's stock worth $48,000 after purchasing an additional 2,715 shares during the last quarter. JPMorgan Chase & Co. boosted its position in StoneCo by 7.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,696,729 shares of the company's stock valued at $13,523,000 after buying an additional 116,050 shares during the period. HighTower Advisors LLC purchased a new stake in StoneCo during the fourth quarter valued at about $312,000. SG Americas Securities LLC purchased a new stake in StoneCo during the first quarter valued at about $597,000. Finally, GAMMA Investing LLC boosted its position in StoneCo by 1,486.3% during the first quarter. GAMMA Investing LLC now owns 2,903 shares of the company's stock valued at $30,000 after buying an additional 2,720 shares during the period. Institutional investors own 73.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STNE shares. JPMorgan Chase & Co. upped their price target on shares of StoneCo from $15.50 to $18.50 and gave the company an "overweight" rating in a research report on Wednesday. Citigroup upgraded shares of StoneCo from a "neutral" rating to a "buy" rating and upped their price target for the company from $9.00 to $15.00 in a research report on Tuesday, April 22nd. Santander upgraded shares of StoneCo from a "neutral" rating to an "outperform" rating in a research report on Wednesday, May 21st. Wall Street Zen lowered shares of StoneCo from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Barclays increased their target price on shares of StoneCo from $13.00 to $15.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.07.

StoneCo Stock Performance

Shares of NASDAQ STNE opened at $14.98 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $4.28 billion, a P/E ratio of -19.20, a P/E/G ratio of 0.41 and a beta of 1.94. The firm's fifty day moving average is $14.48 and its two-hundred day moving average is $11.69. StoneCo Ltd. has a 52-week low of $7.72 and a 52-week high of $16.68.

StoneCo (NASDAQ:STNE - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $625.86 million during the quarter, compared to analyst estimates of $3.68 billion. StoneCo had a positive return on equity of 16.65% and a negative net margin of 8.90%. As a group, analysts anticipate that StoneCo Ltd. will post 1.16 EPS for the current fiscal 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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