Invesco Ltd. Grows Stock Holdings in StoneCo Ltd. $STNE

Key Points

• Invesco Ltd. increased its holdings in StoneCo Ltd. by 11.4%, acquiring 24,163 additional shares, which brings their total ownership to approximately 236,419 shares valued at $2,478,000.
• Several other hedge funds, including Covestor Ltd., Headlands Technologies LLC, and JGP Global Gestao de Recursos Ltda., have also significantly increased their stakes in StoneCo, indicating growing institutional interest in the stock.
• Analysts have mixed ratings for StoneCo, with Barclays raising their target price from $13.00 to $15.00 while others, like JPMorgan Chase & Co., have increased their target to $18.50, reflecting a consensus of a "Moderate Buy."

Invesco Ltd. raised its position in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,419 shares of the company's stock after acquiring an additional 24,163 shares during the quarter. Invesco Ltd. owned approximately 0.08% of StoneCo worth $2,478,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Covestor Ltd increased its position in shares of StoneCo by 40.7% in the first quarter. Covestor Ltd now owns 23,665 shares of the company's stock valued at $248,000 after acquiring an additional 6,844 shares during the period. Headlands Technologies LLC increased its position in shares of StoneCo by 998.7% in the first quarter. Headlands Technologies LLC now owns 24,293 shares of the company's stock valued at $255,000 after acquiring an additional 22,082 shares during the period. Fourth Sail Capital LP purchased a new position in shares of StoneCo in the first quarter valued at about $13,640,000. JGP Global Gestao de Recursos Ltda. increased its position in shares of StoneCo by 484.8% in the first quarter. JGP Global Gestao de Recursos Ltda. now owns 4,472,738 shares of the company's stock valued at $46,874,000 after acquiring an additional 3,707,941 shares during the period. Finally, Truffle Hound Capital LLC increased its position in shares of StoneCo by 220.0% in the first quarter. Truffle Hound Capital LLC now owns 400,000 shares of the company's stock valued at $4,192,000 after acquiring an additional 275,000 shares during the period. Hedge funds and other institutional investors own 73.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on STNE shares. Barclays lifted their target price on shares of StoneCo from $13.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Wall Street Zen lowered shares of StoneCo from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. lifted their target price on shares of StoneCo from $15.50 to $18.50 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Zacks Research raised shares of StoneCo to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Santander raised shares of StoneCo from a "neutral" rating to an "outperform" rating in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.36.

StoneCo Trading Down 0.8%

NASDAQ:STNE opened at $16.47 on Friday. StoneCo Ltd. has a one year low of $7.72 and a one year high of $16.82. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.48 and a quick ratio of 1.48. The company's 50-day simple moving average is $14.85 and its 200 day simple moving average is $12.98. The firm has a market capitalization of $4.71 billion, a P/E ratio of -23.53, a PEG ratio of 0.44 and a beta of 1.88.

StoneCo (NASDAQ:STNE - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $643.82 million for 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%. As a group, analysts forecast that StoneCo Ltd. will post 1.16 EPS 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.

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