Bank of New York Mellon Corp Sells 255,207 Shares of StoneCo Ltd. (NASDAQ:STNE)

Bank of New York Mellon Corp cut its holdings in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 25.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 731,918 shares of the company's stock after selling 255,207 shares during the period. Bank of New York Mellon Corp owned about 0.24% of StoneCo worth $7,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in StoneCo by 1,486.3% during the first quarter. GAMMA Investing LLC now owns 2,903 shares of the company's stock worth $30,000 after acquiring an additional 2,720 shares in the last quarter. Sterling Capital Management LLC lifted its stake in StoneCo by 627.0% in the fourth quarter. Sterling Capital Management LLC now owns 4,551 shares of the company's stock valued at $36,000 after acquiring an additional 3,925 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in StoneCo by 143.0% in the first quarter. Harbor Capital Advisors Inc. now owns 4,614 shares of the company's stock valued at $48,000 after acquiring an additional 2,715 shares during the last quarter. Wexford Capital LP acquired a new stake in StoneCo in the fourth quarter valued at $88,000. Finally, Advisory Services Network LLC lifted its stake in StoneCo by 90.6% in the fourth quarter. Advisory Services Network LLC now owns 11,210 shares of the company's stock valued at $89,000 after acquiring an additional 5,330 shares during the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

StoneCo Stock Performance

Shares of STNE stock traded up $0.08 on Friday, hitting $13.42. The company's stock had a trading volume of 1,568,247 shares, compared to its average volume of 6,184,524. The company has a market capitalization of $3.84 billion, a PE ratio of -17.20, a PEG ratio of 0.37 and a beta of 1.94. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.39 and a current ratio of 1.39. StoneCo Ltd. has a fifty-two week low of $7.72 and a fifty-two week high of $16.68. The stock's 50 day moving average is $14.51 and its 200-day moving average is $11.89.

StoneCo (NASDAQ:STNE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. StoneCo had a negative net margin of 8.90% and a positive return on equity of 16.65%. The company had revenue of $625.86 million during the quarter, compared to the consensus estimate of $3.68 billion. Equities research analysts expect that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on STNE shares. Wall Street Zen downgraded shares of StoneCo from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Santander upgraded shares of StoneCo from a "neutral" rating to an "outperform" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. upped their price objective on shares of StoneCo from $15.50 to $18.50 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Barclays upped their price objective on shares of StoneCo from $13.00 to $15.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Citigroup upgraded shares of StoneCo from a "neutral" rating to a "buy" rating and upped their price objective for the company from $9.00 to $15.00 in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $15.07.

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.