Voya Investment Management LLC Has $3.05 Million Holdings in StoneCo Ltd. $STNE

Key Points

• Voya Investment Management LLC reduced its stake in StoneCo Ltd. by 7.5%, holding approximately $3.05 million worth of stock after selling 23,539 shares in the first quarter.
• Institutional investors currently own 73.19% of StoneCo's stock, with notable movements including MIRAE ASSET GLOBAL increasing their stake by 65.5%.
• Analysts have varied ratings on StoneCo, with Zacks Research upgrading it to a "strong-buy" and average projected price target of $16.56.

Voya Investment Management LLC cut its stake in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 290,507 shares of the company's stock after selling 23,539 shares during the period. Voya Investment Management LLC owned about 0.10% of StoneCo worth $3,045,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of StoneCo by 1,486.3% in the 1st quarter. GAMMA Investing LLC now owns 2,903 shares of the company's stock valued at $30,000 after acquiring an additional 2,720 shares during the period. CWM LLC increased its stake in shares of StoneCo by 327.4% in 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 in the last quarter. Harbor Capital Advisors Inc. increased its stake in StoneCo by 143.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,614 shares of the company's stock worth $48,000 after buying an additional 2,715 shares in the last quarter. Twin Tree Management LP purchased a new stake in StoneCo during the 1st quarter worth approximately $58,000. Finally, Strs Ohio purchased a new stake in shares of StoneCo in the first quarter valued at approximately $70,000. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

StoneCo Stock Performance

Shares of NASDAQ:STNE traded down $0.01 during trading hours on Tuesday, hitting $19.17. The stock had a trading volume of 1,698,787 shares, compared to its average volume of 5,895,685. The stock's fifty day simple moving average is $15.52 and its 200 day simple moving average is $13.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of -27.40, a PEG ratio of 0.42 and a beta of 1.91. StoneCo Ltd. has a 1-year low of $7.72 and a 1-year high of $19.62.

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen cut StoneCo from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Bank of America raised their price objective on StoneCo from $15.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. JPMorgan Chase & Co. lifted their price objective on StoneCo from $15.50 to $18.50 and gave the company an "overweight" rating in a report on Wednesday, July 16th. UBS Group boosted 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 upgraded StoneCo to a "strong-buy" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.56.

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.