Voloridge Investment Management LLC Raises Position in StoneCo Ltd. (NASDAQ:STNE)

Voloridge Investment Management LLC boosted its position in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 13,279.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,813,606 shares of the company's stock after buying an additional 1,800,051 shares during the period. Voloridge Investment Management LLC owned approximately 0.59% of StoneCo worth $14,454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of STNE. Jones Financial Companies Lllp lifted its holdings in StoneCo by 254.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company's stock valued at $34,000 after buying an additional 3,056 shares during the period. Sterling Capital Management LLC raised its holdings in shares of StoneCo by 627.0% during the fourth quarter. Sterling Capital Management LLC now owns 4,551 shares of the company's stock valued at $36,000 after purchasing an additional 3,925 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of StoneCo by 166.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,400 shares of the company's stock valued at $51,000 after purchasing an additional 4,000 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of StoneCo during the fourth quarter valued at about $56,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of StoneCo by 31.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 7,500 shares of the company's stock valued at $59,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 73.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. 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. Morgan Stanley upped their target price on shares of StoneCo from $5.70 to $6.00 and gave the stock an "underweight" rating in a report on Friday, March 21st. Wall Street Zen upgraded shares of StoneCo from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Barclays upped 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. Finally, Santander upgraded shares of StoneCo from a "neutral" rating to an "outperform" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $15.63.

StoneCo Price Performance

NASDAQ:STNE traded up $0.29 during trading hours on Thursday, hitting $13.63. The stock had a trading volume of 2,107,287 shares, compared to its average volume of 5,697,187. The company has a 50 day simple moving average of $12.48 and a two-hundred day simple moving average of $10.34. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 0.41 and a beta of 2.01. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. StoneCo Ltd. has a one year low of $7.72 and a one year high of $15.08.

StoneCo (NASDAQ:STNE - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $625.86 million for the quarter, compared to analysts' expectations of $3.68 billion. StoneCo had a net margin of 16.02% and a return on equity of 13.92%. Research analysts forecast that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

StoneCo Company 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.