MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $15.89 Million Holdings 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 StoneCo Ltd. (NASDAQ:STNE - Free Report) by 65.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,514,742 shares of the company's stock after acquiring an additional 599,313 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.53% of StoneCo worth $15,887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of StoneCo by 1,486.3% in the 1st quarter. GAMMA Investing LLC now owns 2,903 shares of the company's stock valued at $30,000 after acquiring an additional 2,720 shares during the last quarter. CWM LLC increased its stake in shares of StoneCo by 327.4% in the 1st quarter. CWM LLC now owns 3,154 shares of the company's stock valued at $33,000 after acquiring an additional 2,416 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of StoneCo by 143.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,614 shares of the company's stock valued at $48,000 after acquiring an additional 2,715 shares during the last quarter. Twin Tree Management LP bought a new stake in shares of StoneCo in the 1st quarter valued at about $58,000. Finally, Signaturefd LLC increased its stake in shares of StoneCo by 13.6% in the 1st quarter. Signaturefd LLC now owns 7,708 shares of the company's stock valued at $81,000 after acquiring an additional 924 shares during the last quarter. 73.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on STNE shares. Wall Street Zen cut StoneCo from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Santander raised StoneCo from a "neutral" rating to an "outperform" rating in a research note on Wednesday, May 21st. Bank of America increased their target price on StoneCo from $15.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday. Zacks Research raised StoneCo to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, UBS Group increased their target price on StoneCo from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $16.56.

StoneCo Stock Up 0.9%

Shares of STNE traded up $0.17 during mid-day trading on Friday, hitting $18.29. 3,994,782 shares of the company's stock were exchanged, compared to its average volume of 5,903,786. The company has a market cap of $5.23 billion, a PE ratio of -26.13, a P/E/G ratio of 0.38 and a beta of 1.91. StoneCo Ltd. has a 52 week low of $7.72 and a 52 week high of $18.40. The company has a 50-day simple moving average of $15.11 and a 200 day simple moving average of $13.41. 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 (NASDAQ:STNE - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. The company had revenue of $643.82 million during the quarter, compared to analysts' expectations of $3.78 billion. StoneCo had a negative net margin of 8.37% and a positive return on equity of 18.71%. On average, research analysts forecast that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

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.