Rhumbline Advisers lessened its position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 419,883 shares of the company's stock after selling 20,639 shares during the period. Rhumbline Advisers owned 0.14% of StoneCo worth $4,400,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in StoneCo by 254.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company's stock valued at $34,000 after acquiring an additional 3,056 shares during the period. Sterling Capital Management LLC increased its stake in shares of StoneCo by 627.0% in the fourth quarter. Sterling Capital Management LLC now owns 4,551 shares of the company's stock worth $36,000 after purchasing an additional 3,925 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of StoneCo in the fourth quarter worth about $56,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in StoneCo by 31.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 7,500 shares of the company's stock worth $59,000 after buying an additional 1,800 shares during the period. Finally, Wexford Capital LP bought a new position in StoneCo in the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 73.19% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on STNE. Barclays raised their price objective on shares of StoneCo from $13.00 to $15.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Wells Fargo & Company upgraded StoneCo from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, March 19th. Morgan Stanley boosted their price objective on StoneCo from $5.70 to $6.00 and gave the company an "underweight" rating in a research note on Friday, March 21st. Santander raised StoneCo from a "neutral" rating to an "outperform" rating in a report on Wednesday, May 21st. Finally, Wall Street Zen lowered StoneCo from a "buy" rating to a "hold" rating in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.63.
Check Out Our Latest Research Report on StoneCo
StoneCo Price Performance
StoneCo stock opened at $13.76 on Friday. StoneCo Ltd. has a 52 week low of $7.72 and a 52 week high of $15.08. The business has a 50-day simple moving average of $13.16 and a 200 day simple moving average of $10.64. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 0.41 and a beta of 1.92.
StoneCo (NASDAQ:STNE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The firm had revenue of $625.86 million during the quarter, compared to the consensus estimate of $3.68 billion. StoneCo had a return on equity of 13.92% and a net margin of 16.02%. On average, research analysts forecast that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.
About StoneCo
(
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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