StoneCo Ltd. $STNE Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in StoneCo Ltd. by 25.9% in the first quarter, now owning approximately 0.24% of the company valued at $7.3 million.
• Several brokerages have adjusted their ratings for StoneCo, with Barclays raising the price target from $13 to $15 and JPMorgan increasing it from $15.50 to $18.50.
• StoneCo reported a quarterly earnings of $0.39 per share, surpassing the expected $0.36, and had a revenue of $643.82 million despite lower analyst estimates.

Charles Schwab Investment Management Inc. reduced its stake in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 25.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 696,224 shares of the company's stock after selling 243,298 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.24% of StoneCo worth $7,296,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in StoneCo by 1,486.3% in the 1st quarter. GAMMA Investing LLC now owns 2,903 shares of the company's stock worth $30,000 after acquiring an additional 2,720 shares during the last quarter. CWM LLC grew its stake in StoneCo by 327.4% during the 1st quarter. CWM LLC now owns 3,154 shares of the company's stock valued at $33,000 after purchasing an additional 2,416 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of 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 purchasing an additional 2,715 shares during the period. Signaturefd LLC raised its stake in shares of StoneCo by 13.6% in the first quarter. Signaturefd LLC now owns 7,708 shares of the company's stock worth $81,000 after purchasing an additional 924 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of StoneCo by 18.4% in the first quarter. PNC Financial Services Group Inc. now owns 8,473 shares of the company's stock worth $89,000 after purchasing an additional 1,317 shares during the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on STNE. Wall Street Zen cut shares of StoneCo from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Barclays raised their target price 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. JPMorgan Chase & Co. upped their price target on shares of StoneCo from $15.50 to $18.50 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Santander raised StoneCo from a "neutral" rating to an "outperform" rating in a research report on Wednesday, May 21st. Finally, Zacks Research upgraded StoneCo to a "strong-buy" rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.07.

StoneCo Trading Up 1.6%

STNE stock opened at $15.67 on Wednesday. StoneCo Ltd. has a 52-week low of $7.72 and a 52-week high of $16.68. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.76. The firm has a market cap of $4.48 billion, a P/E ratio of -22.39, a PEG ratio of 0.41 and a beta of 1.88. The company's 50-day simple moving average is $14.75 and its 200-day simple moving average is $12.84.

StoneCo (NASDAQ:STNE - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. The firm had revenue of $643.82 million during the quarter, compared to analyst estimates of $3.78 billion. StoneCo had a positive return on equity of 18.71% and a negative net margin of 8.37%. As a group, equities analysts forecast that StoneCo Ltd. will post 1.16 EPS for the current fiscal year.

About StoneCo

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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