Hsbc Holdings PLC Lowers Position in StoneCo Ltd. $STNE

Key Points

• Hsbc Holdings PLC reduced its stake in StoneCo Ltd. by 45.9%, owning 810,987 shares valued at approximately $8.6 million after selling 687,329 shares in the 1st quarter.
• Other institutional investors have also adjusted their holdings; for example, CWM LLC increased its stake by 327.4%, now owning 3,154 shares worth $33,000.
• StoneCo recently reported earnings of $0.39 EPS, exceeding expectations, with revenue of $643.82 million but falling short of the $3.78 billion projection by analysts.

Hsbc Holdings PLC trimmed its position in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 45.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 810,987 shares of the company's stock after selling 687,329 shares during the period. Hsbc Holdings PLC owned 0.28% of StoneCo worth $8,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in STNE. Signaturefd LLC boosted its holdings in shares of StoneCo by 13.6% during the 1st quarter. Signaturefd LLC now owns 7,708 shares of the company's stock valued at $81,000 after buying an additional 924 shares in the last quarter. Xponance Inc. lifted its position in StoneCo by 4.7% during the 1st quarter. Xponance Inc. now owns 21,762 shares of the company's stock valued at $228,000 after acquiring an additional 981 shares during the period. PNC Financial Services Group Inc. lifted its position in StoneCo by 18.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,473 shares of the company's stock valued at $89,000 after acquiring an additional 1,317 shares during the period. CWM LLC boosted its stake in StoneCo by 327.4% during the first 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. Finally, Harbor Capital Advisors Inc. grew its holdings in StoneCo by 143.0% in 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 period. Institutional investors own 73.19% of the company's stock.

StoneCo Stock Performance

STNE stock opened at $15.35 on Monday. The stock's 50 day simple moving average is $14.73 and its 200 day simple moving average is $12.78. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.76. StoneCo Ltd. has a 12-month low of $7.72 and a 12-month high of $16.68. The stock has a market capitalization of $4.39 billion, a PE ratio of -21.93, a price-to-earnings-growth ratio of 0.41 and a beta of 1.88.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Santander upgraded shares of StoneCo from a "neutral" rating to an "outperform" rating in a report on Wednesday, May 21st. Barclays raised their price objective on StoneCo from $13.00 to $15.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Zacks Research raised StoneCo to a "strong-buy" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price target on StoneCo from $15.50 to $18.50 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen lowered StoneCo from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.07.

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.

Want to see what other hedge funds are holding STNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for StoneCo Ltd. (NASDAQ:STNE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.