Ninety One North America Inc. Invests $7.58 Million in StoneCo Ltd. $STNE

Key Points

• Ninety One North America Inc. has invested approximately $7.58 million in StoneCo Ltd., acquiring 472,365 shares, which constitutes about 0.17% of the company as of the latest reporting period.
• StoneCo's stock has recently seen a decline of 2.8% and is currently valued at $18.91, having a market capitalization of $5.41 billion with a negative price-to-earnings ratio of -27.01.
• Recent analyst ratings show optimism, with several firms upgrading StoneCo's stock to "buy" or "strong buy," and an overall consensus target price of $16.56.

Ninety One North America Inc. purchased a new position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 472,365 shares of the company's stock, valued at approximately $7,577,000. Ninety One North America Inc. owned about 0.17% of StoneCo at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nuveen LLC acquired a new position in StoneCo during the first quarter worth $70,502,000. JGP Global Gestao de Recursos Ltda. grew its holdings in StoneCo by 484.8% during the first quarter. JGP Global Gestao de Recursos Ltda. now owns 4,472,738 shares of the company's stock worth $46,874,000 after acquiring an additional 3,707,941 shares during the period. Assenagon Asset Management S.A. grew its holdings in StoneCo by 1,289.8% during the first quarter. Assenagon Asset Management S.A. now owns 1,520,192 shares of the company's stock worth $15,932,000 after acquiring an additional 1,410,813 shares during the period. Ninety One UK Ltd acquired a new position in StoneCo during the second quarter worth $21,330,000. Finally, Fourth Sail Capital LP acquired a new position in StoneCo during the first quarter worth $13,640,000. Hedge funds and other institutional investors own 73.19% of the company's stock.

StoneCo Stock Down 2.8%

StoneCo stock opened at $18.91 on Wednesday. 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 firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -27.01, a price-to-earnings-growth ratio of 0.40 and a beta of 1.91. StoneCo Ltd. has a fifty-two week low of $7.72 and a fifty-two week high of $19.95. The stock's fifty day moving average is $16.08 and its two-hundred day moving average is $14.30.

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. Analysts predict that StoneCo Ltd. will post 1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

STNE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on StoneCo from $15.50 to $18.50 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. UBS Group upped their price objective on StoneCo from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Wall Street Zen raised StoneCo from a "hold" rating to a "buy" rating in a report on Friday, September 26th. Zacks Research raised StoneCo to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Bank of America upped their target price on StoneCo from $15.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.56.

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.

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.