Allspring Global Investments Holdings LLC Has $38.11 Million Stock Holdings in StoneCo Ltd. (NASDAQ:STNE)

Allspring Global Investments Holdings LLC trimmed its position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,113,431 shares of the company's stock after selling 403,124 shares during the period. Allspring Global Investments Holdings LLC owned about 0.67% of StoneCo worth $38,105,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. acquired a new stake in shares of StoneCo during the 4th quarter worth about $25,000. McGlone Suttner Wealth Management Inc. acquired a new stake in StoneCo during the fourth quarter worth approximately $26,000. Quarry LP purchased a new stake in shares of StoneCo during the 2nd quarter worth approximately $38,000. Tucker Asset Management LLC acquired a new position in shares of StoneCo in the 3rd quarter valued at $60,000. Finally, Belpointe Asset Management LLC grew its position in shares of StoneCo by 28.8% in the 1st quarter. Belpointe Asset Management LLC now owns 6,700 shares of the company's stock valued at $64,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 73.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on STNE shares. Citigroup upped their price objective on shares of StoneCo from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. The Goldman Sachs Group upgraded shares of StoneCo from a "neutral" rating to a "buy" rating and raised their target price for the stock from $12.00 to $21.00 in a research report on Monday, January 22nd. UBS Group downgraded shares of StoneCo from a "buy" rating to a "neutral" rating and upped their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Finally, Barclays lifted their price objective on shares of StoneCo from $14.00 to $17.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, StoneCo currently has an average rating of "Moderate Buy" and a consensus target price of $18.80.

StoneCo Stock Performance

NASDAQ STNE traded down $0.52 on Friday, hitting $16.12. 3,473,698 shares of the company's stock were exchanged, compared to its average volume of 5,249,432. The firm's 50-day moving average price is $16.95 and its two-hundred day moving average price is $15.12. StoneCo Ltd. has a fifty-two week low of $9.34 and a fifty-two week high of $19.46. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 16.48 and a beta of 2.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.27 and a quick ratio of 1.27.

StoneCo (NASDAQ:STNE - Get Free Report) last released its quarterly earnings data on Monday, March 18th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.04. The firm had revenue of $655.87 million for the quarter, compared to the consensus estimate of $468.47 million. StoneCo had a net margin of 13.35% and a return on equity of 11.23%. On average, research analysts expect that StoneCo Ltd. will post 1.3 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.