MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $15.89 Million Position in StoneCo Ltd. $STNE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in StoneCo Ltd. by 65.5% during the first quarter, now holding approximately 1.5 million shares valued at almost $15.9 million.
• Brokerages have issued positive ratings for StoneCo, with UBS Group raising their price target from $15 to $20, and Bank of America increasing their target from $15 to $25.
• StoneCo's stock is currently trading at $18.12, showing a price-to-earnings ratio of -25.89 and a market capitalization of $5.18 billion.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 65.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,514,742 shares of the company's stock after purchasing an additional 599,313 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.53% of StoneCo worth $15,887,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in StoneCo in the 1st quarter worth approximately $902,000. 14B Captial Management LP grew its holdings in StoneCo by 23.8% in the 1st quarter. 14B Captial Management LP now owns 1,299,000 shares of the company's stock worth $13,614,000 after buying an additional 250,000 shares in the last quarter. PDT Partners LLC bought a new position in StoneCo in the 1st quarter worth approximately $3,306,000. Twin Tree Management LP bought a new position in StoneCo in the 1st quarter worth approximately $58,000. Finally, Azora Capital LP grew its holdings in StoneCo by 15.9% in the 1st quarter. Azora Capital LP now owns 2,583,510 shares of the company's stock worth $27,075,000 after buying an additional 355,192 shares in the last quarter. 73.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

STNE has been the subject of a number of research reports. Santander raised StoneCo from a "neutral" rating to an "outperform" rating in a research note on Wednesday, May 21st. Wall Street Zen lowered StoneCo from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. UBS Group raised their price objective on StoneCo from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Zacks Research raised StoneCo to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Bank of America increased their price objective on StoneCo from $15.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.56.

StoneCo Stock Up 0.9%

Shares of NASDAQ:STNE traded up $0.17 during midday trading on Friday, hitting $18.29. 4,047,664 shares of the stock were exchanged, compared to its average volume of 4,223,586. StoneCo Ltd. has a 52-week low of $7.72 and a 52-week high of $18.40. The business's fifty day simple moving average is $15.15 and its two-hundred day simple moving average is $13.53. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $5.23 billion, a PE ratio of -26.13, a P/E/G ratio of 0.39 and a beta of 1.91.

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

About StoneCo

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.