PenderFund Capital Management Ltd. acquired a new stake in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 150,000 shares of the company's stock, valued at approximately $1,572,000. PenderFund Capital Management Ltd. owned approximately 0.05% of StoneCo as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of STNE. Raymond James Financial Inc. acquired a new position in StoneCo in the 4th quarter worth approximately $132,000. Price T Rowe Associates Inc. MD increased its holdings in StoneCo by 18.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 118,826 shares of the company's stock worth $948,000 after buying an additional 18,659 shares during the period. Northern Trust Corp increased its holdings in StoneCo by 44.9% in the 4th quarter. Northern Trust Corp now owns 3,073,658 shares of the company's stock worth $24,497,000 after buying an additional 952,039 shares during the period. Balyasny Asset Management L.P. increased its holdings in StoneCo by 105.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 71,111 shares of the company's stock worth $567,000 after buying an additional 36,456 shares during the period. Finally, Crestline Management LP increased its holdings in StoneCo by 792.6% in the 4th quarter. Crestline Management LP now owns 114,239 shares of the company's stock worth $910,000 after buying an additional 101,440 shares during the period. Institutional investors and hedge funds own 73.19% of the company's stock.
Wall Street Analysts Forecast Growth
STNE has been the topic of several research reports. Santander upgraded shares of StoneCo from a "neutral" rating to an "outperform" rating in a report on Wednesday, May 21st. Zacks Research raised shares of StoneCo to a "strong-buy" rating in a report on Tuesday, August 12th. Wall Street Zen lowered shares of StoneCo from a "buy" rating to a "hold" rating in a report on Friday, June 6th. UBS Group lifted their target price on shares of StoneCo from $15.00 to $20.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, 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 report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, StoneCo has an average rating of "Moderate Buy" and an average target price of $15.36.
Check Out Our Latest Stock Report on StoneCo
StoneCo Stock Performance
NASDAQ STNE opened at $17.30 on Friday. The company has a market cap of $4.95 billion, a P/E ratio of -24.71, a P/E/G ratio of 0.44 and a beta of 1.91. 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 stock has a 50-day moving average of $14.98 and a two-hundred day moving average of $13.20. StoneCo Ltd. has a 1-year low of $7.72 and a 1-year high of $17.44.
StoneCo (NASDAQ:STNE - Get Free Report) last released 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. The company had revenue of $643.82 million during the quarter, compared to the consensus estimate 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, analysts anticipate that StoneCo Ltd. will post 1.16 EPS for the current year.
StoneCo Company Profile
(
Free Report)
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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