Assenagon Asset Management S.A. Purchases New Holdings in StoneCo Ltd. (NASDAQ:STNE)

Assenagon Asset Management S.A. bought a new position in StoneCo Ltd. (NASDAQ:STNE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 156,617 shares of the company's stock, valued at approximately $2,824,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STNE. 1832 Asset Management L.P. bought a new stake in StoneCo in the fourth quarter valued at $25,000. Quarry LP bought a new stake in StoneCo in the 2nd quarter valued at about $38,000. Tucker Asset Management LLC acquired a new stake in StoneCo in the third quarter worth about $60,000. Belpointe Asset Management LLC raised its position in shares of StoneCo by 28.8% during the 1st quarter. Belpointe Asset Management LLC now owns 6,700 shares of the company's stock worth $64,000 after buying an additional 1,500 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of StoneCo by 281.5% in the 1st quarter. Captrust Financial Advisors now owns 6,268 shares of the company's stock worth $73,000 after acquiring an additional 4,625 shares during the period. 73.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on STNE. Bank of America upped their price target on shares of StoneCo from $17.00 to $18.00 and gave the company a "buy" rating in a report on Monday, December 11th. UBS Group lowered shares of StoneCo from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Barclays increased their price objective on StoneCo from $14.00 to $17.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 16th. Citigroup lifted their target price on StoneCo from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Finally, The Goldman Sachs Group raised StoneCo from a "neutral" rating to a "buy" rating and upped their target price for the company from $12.00 to $21.00 in a report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.64.

StoneCo Trading Up 0.5 %

Shares of NASDAQ:STNE traded up $0.08 during mid-day trading on Wednesday, reaching $16.32. The stock had a trading volume of 3,872,787 shares, compared to its average volume of 5,260,864. The firm has a market cap of $5.13 billion, a PE ratio of 16.16 and a beta of 2.34. The firm has a 50 day simple moving average of $17.05 and a two-hundred day simple moving average of $14.89. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25. StoneCo Ltd. has a twelve month low of $8.73 and a twelve month high of $19.46.

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.