Hsbc Holdings PLC Has $2.30 Million Stock Holdings in StoneCo Ltd. $STNE

Key Points

• HSBC Holdings PLC increased its StoneCo stake by 286.6% in the first quarter, owning 163,065 shares worth about $2.30 million after buying 120,883 more shares.
• StoneCo shares were trading around $10.76, near their 52-week low of $9.45 and well below the 52-week high of $19.95, with a market cap of $2.68 billion and a low P/E ratio of 4.30.
• Analysts remain cautious overall: the stock has a Hold consensus rating with an average price target of $14.59, even as some firms kept Buy ratings and one director sold 9,000 shares in June.

Hsbc Holdings PLC grew its position in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 286.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 163,065 shares of the company's stock after purchasing an additional 120,883 shares during the period. Hsbc Holdings PLC owned about 0.06% of StoneCo worth $2,298,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. BRC Global BAH Investments Ltd. bought a new position in StoneCo in the 4th quarter valued at $84,501,000. Pictet Asset Management Holding SA lifted its stake in shares of StoneCo by 131.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 219,614 shares of the company's stock valued at $3,248,000 after acquiring an additional 124,734 shares during the period. Coronation Fund Managers Ltd. raised its holdings in StoneCo by 71.7% during the 4th quarter. Coronation Fund Managers Ltd. now owns 2,499,733 shares of the company's stock worth $36,971,000 after purchasing an additional 1,043,464 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in StoneCo in the fourth quarter valued at approximately $3,546,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in StoneCo by 25.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,515,851 shares of the company's stock valued at $37,209,000 after acquiring an additional 507,431 shares during the last quarter. Institutional investors own 73.19% of the company's stock.

StoneCo Stock Performance

NASDAQ STNE opened at $10.76 on Friday. The firm has a 50-day moving average of $10.96 and a 200-day moving average of $13.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $2.68 billion, a PE ratio of 4.30, a P/E/G ratio of 0.32 and a beta of 1.73. StoneCo Ltd. has a 52-week low of $9.45 and a 52-week high of $19.95.

StoneCo (NASDAQ:STNE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. StoneCo had a return on equity of 21.05% and a net margin of 23.82%.The firm had revenue of $141.16 million for the quarter, compared to analysts' expectations of $675.11 million. On average, sell-side analysts anticipate that StoneCo Ltd. will post 2.27 EPS for the current year.

Insider Buying and Selling at StoneCo

In other news, Director Silvio Jose Morais sold 9,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $11.29, for a total transaction of $101,610.00. Following the sale, the director directly owned 21,000 shares of the company's stock, valued at approximately $237,090. This represents a 30.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 11.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on STNE shares. UBS Group decreased their target price on StoneCo from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, July 17th. BTIG Research reduced their target price on StoneCo from $22.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, May 15th. Jefferies Financial Group began coverage on StoneCo in a research note on Thursday. They set a "hold" rating and a $12.60 target price for the company. Bank of America lowered shares of StoneCo from a "buy" rating to a "neutral" rating and set a $13.00 price target on the stock. in a research note on Wednesday, July 15th. Finally, Citigroup lowered shares of StoneCo from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $18.00 to $11.00 in a report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $14.59.

StoneCo Company Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil's retail, restaurant and services sectors.

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