Entropy Technologies LP Invests $807,000 in StoneCo Ltd. (NASDAQ:STNE)

Key Points

• Entropy Technologies LP acquired 77,002 shares of StoneCo Ltd., valued at approximately $807,000, marking a significant investment in the company's stock.
• StoneCo reported earnings of $0.39 per share for the last quarter, exceeding analysts' expectations of $0.36.
• Multiple hedge funds increased their stakes in StoneCo, with institutional investors owning 73.19% of the company's stock, highlighting strong investor confidence.

Entropy Technologies LP purchased a new position in StoneCo Ltd. (NASDAQ:STNE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,002 shares of the company's stock, valued at approximately $807,000.

A number of other hedge funds have also recently made changes to their positions in STNE. GAMMA Investing LLC grew its holdings in shares of StoneCo by 1,486.3% in the first quarter. GAMMA Investing LLC now owns 2,903 shares of the company's stock worth $30,000 after purchasing an additional 2,720 shares during the last quarter. CWM LLC grew its holdings in StoneCo by 327.4% during the 1st quarter. CWM LLC now owns 3,154 shares of the company's stock worth $33,000 after acquiring an additional 2,416 shares in the last quarter. Sterling Capital Management LLC grew its holdings in StoneCo by 627.0% during the 4th quarter. Sterling Capital Management LLC now owns 4,551 shares of the company's stock worth $36,000 after acquiring an additional 3,925 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in StoneCo by 143.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,614 shares of the company's stock worth $48,000 after acquiring an additional 2,715 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in StoneCo by 13.6% during the 1st quarter. Signaturefd LLC now owns 7,708 shares of the company's stock worth $81,000 after acquiring an additional 924 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on STNE shares. Citigroup upgraded shares of StoneCo from a "neutral" rating to a "buy" rating and increased their target price for the stock from $9.00 to $15.00 in a report on Tuesday, April 22nd. 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. JPMorgan Chase & Co. increased their target price 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 cut shares of StoneCo from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Finally, Santander upgraded shares of StoneCo from a "neutral" rating to an "outperform" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, StoneCo has a consensus rating of "Moderate Buy" and an average target price of $15.07.

StoneCo Stock Performance

StoneCo stock traded down $0.38 during mid-day trading on Thursday, reaching $15.32. 5,504,543 shares of the company traded hands, compared to its average volume of 5,250,563. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.48 and a quick ratio of 1.48. StoneCo Ltd. has a fifty-two week low of $7.72 and a fifty-two week high of $16.68. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of -21.89, a price-to-earnings-growth ratio of 0.42 and a beta of 1.88. The firm's fifty day moving average is $14.57 and its two-hundred day moving average is $12.48.

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

StoneCo 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.