StoneCo Ltd. $STNE Shares Bought by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its stake in StoneCo Ltd. by 398%, owning 219,896 shares valued at approximately $3.5 million at the end of the last quarter.
• Equities analysts have issued a range of ratings for StoneCo, with Bank of America increasing its price target to $25 while maintaining a "buy" rating.
• StoneCo reported earnings of $0.39 per share, beating estimates, but revenue fell short at $643.82 million, compared to expectations of $3.78 billion.

Exchange Traded Concepts LLC boosted its position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 398.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,896 shares of the company's stock after buying an additional 175,738 shares during the quarter. Exchange Traded Concepts LLC owned 0.08% of StoneCo worth $3,527,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in StoneCo by 1,486.3% during the first quarter. GAMMA Investing LLC now owns 2,903 shares of the company's stock valued at $30,000 after buying an additional 2,720 shares in the last quarter. CWM LLC boosted its stake in StoneCo by 327.4% during the first quarter. CWM LLC now owns 3,154 shares of the company's stock valued at $33,000 after buying an additional 2,416 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of StoneCo by 143.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,614 shares of the company's stock valued at $48,000 after purchasing an additional 2,715 shares during the period. Twin Tree Management LP purchased a new position in StoneCo in the 1st quarter worth about $58,000. Finally, Strs Ohio purchased a new position in StoneCo in the 1st quarter worth about $70,000. Institutional investors own 73.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Bank of America lifted their price target on StoneCo from $15.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Wall Street Zen cut StoneCo from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. lifted their price target on StoneCo from $15.50 to $18.50 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. UBS Group lifted their price target on StoneCo from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Zacks Research raised StoneCo to a "strong-buy" rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.56.

StoneCo Stock Performance

Shares of NASDAQ STNE opened at $19.40 on Friday. The company has a market cap of $5.55 billion, a P/E ratio of -27.71, a P/E/G ratio of 0.42 and a beta of 1.91. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.76. StoneCo Ltd. has a 12 month low of $7.72 and a 12 month high of $19.62. The business's 50 day moving average is $15.44 and its two-hundred day moving average is $13.84.

StoneCo (NASDAQ:STNE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.03. The business had revenue of $643.82 million for the quarter, compared to analysts' expectations of $3.78 billion. StoneCo had a positive return on equity of 18.71% and a negative net margin of 8.37%. On average, equities analysts expect that StoneCo Ltd. will post 1.16 EPS for the current year.

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.

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