Bank of America Corp DE cut its holdings in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 22.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,858,887 shares of the company's stock after selling 546,738 shares during the quarter. Bank of America Corp DE owned approximately 0.60% of StoneCo worth $14,815,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Barclays PLC grew its stake in shares of StoneCo by 170.8% during the third quarter. Barclays PLC now owns 440,682 shares of the company's stock worth $4,962,000 after buying an additional 277,963 shares during the last quarter. Commons Capital LLC acquired a new stake in shares of StoneCo during the 4th quarter valued at $383,000. KBC Group NV acquired a new stake in shares of StoneCo during the 4th quarter valued at $73,000. Verde Servicos Internacionais S.A. grew its position in StoneCo by 68.0% during the 4th quarter. Verde Servicos Internacionais S.A. now owns 67,000 shares of the company's stock worth $534,000 after acquiring an additional 27,128 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in StoneCo by 5.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 987,298 shares of the company's stock worth $7,869,000 after acquiring an additional 47,841 shares during the last quarter. Institutional investors own 73.19% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. The Goldman Sachs Group cut their price target on StoneCo from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Santander upgraded shares of StoneCo from a "neutral" rating to an "outperform" rating in a report on Wednesday, May 21st. Wall Street Zen raised shares of StoneCo from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Citigroup upgraded shares of StoneCo from a "neutral" rating to a "buy" rating and upped their price target for the company from $9.00 to $15.00 in a research report on Tuesday, April 22nd. Finally, Morgan Stanley lifted 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.63.
Get Our Latest Research Report on STNE
StoneCo Trading Up 1.2%
Shares of NASDAQ STNE traded up $0.16 during midday trading on Tuesday, reaching $13.44. The stock had a trading volume of 6,536,692 shares, compared to its average volume of 5,722,271. The company's 50 day moving average price is $12.43 and its 200 day moving average price is $10.32. 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 twelve month low of $7.72 and a twelve month high of $15.08. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 0.41 and a beta of 2.01.
StoneCo (NASDAQ:STNE - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $625.86 million for the quarter, compared to analyst estimates of $3.68 billion. StoneCo had a net margin of 16.02% and a return on equity of 13.92%. As a group, sell-side analysts expect that StoneCo Ltd. will post 1.16 EPS for the current 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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