Bank of America Corp DE lessened its holdings in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 22.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,858,887 shares of the company's stock after selling 546,738 shares during the period. Bank of America Corp DE owned approximately 0.60% of StoneCo worth $14,815,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in STNE. Barclays PLC raised its stake in StoneCo by 170.8% in the third quarter. Barclays PLC now owns 440,682 shares of the company's stock valued at $4,962,000 after buying an additional 277,963 shares during the last quarter. Commons Capital LLC acquired a new position in shares of StoneCo during the fourth quarter valued at about $383,000. Asset Management One Co. Ltd. raised its position in shares of StoneCo by 34.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 45,569 shares of the company's stock valued at $373,000 after purchasing an additional 11,605 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in StoneCo by 7.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,696,729 shares of the company's stock worth $13,523,000 after purchasing an additional 116,050 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in StoneCo in the 4th quarter worth approximately $312,000. Institutional investors and hedge funds own 73.19% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on STNE. Morgan Stanley raised their price target on shares of StoneCo from $5.70 to $6.00 and gave the stock an "underweight" rating in a report on Friday, March 21st. The Goldman Sachs Group lowered their price target on StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Citigroup upgraded StoneCo from a "neutral" rating to a "buy" rating and boosted their price target for the company from $9.00 to $15.00 in a research note on Tuesday, April 22nd. Wells Fargo & Company raised StoneCo from an "equal weight" rating to an "overweight" rating in a report on Wednesday, March 19th. Finally, Barclays lifted their target price on StoneCo from $13.00 to $15.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.63.
Check Out Our Latest Stock Report on STNE
StoneCo Stock Performance
NASDAQ STNE opened at $12.91 on Thursday. The firm has a market capitalization of $3.69 billion, a P/E ratio of 10.09, a PEG ratio of 0.41 and a beta of 2.01. The stock has a 50-day simple moving average of $12.21 and a two-hundred day simple moving average of $10.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. StoneCo Ltd. has a fifty-two week low of $7.72 and a fifty-two week high of $15.16.
StoneCo (NASDAQ:STNE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. StoneCo had a return on equity of 13.92% and a net margin of 16.02%. The company had revenue of $625.86 million during the quarter, compared to analysts' expectations of $3.68 billion. On average, equities analysts forecast that StoneCo Ltd. will post 1.16 earnings per share for the current year.
StoneCo 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.
See Also
Want to see what other hedge funds are holding STNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for StoneCo Ltd. (NASDAQ:STNE - Free Report).
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