Sumitomo Mitsui Trust Holdings Inc. Sells 503,814 Shares of StoneCo Ltd. (NASDAQ:STNE)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 6.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,781,734 shares of the company's stock after selling 503,814 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 2.48% of StoneCo worth $140,305,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STNE. 1832 Asset Management L.P. acquired a new position in StoneCo in the 4th quarter valued at $25,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of StoneCo during the 4th quarter worth $26,000. Quarry LP acquired a new stake in shares of StoneCo during the 2nd quarter worth $38,000. Tucker Asset Management LLC acquired a new stake in shares of StoneCo during the 3rd quarter worth $60,000. Finally, Belpointe Asset Management LLC increased its holdings 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 during the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

StoneCo Stock Down 2.4 %

StoneCo stock traded down $0.38 during trading on Tuesday, reaching $15.29. 4,916,618 shares of the company's stock were exchanged, compared to its average volume of 5,241,480. The company's 50-day moving average is $16.81 and its two-hundred day moving average is $15.30. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.27 and a current ratio of 1.27. StoneCo Ltd. has a 52-week low of $9.34 and a 52-week high of $19.46. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 15.14 and a beta of 2.35.

StoneCo (NASDAQ:STNE - Get Free Report) last posted its quarterly earnings data on Monday, March 18th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.04. StoneCo had a net margin of 13.35% and a return on equity of 11.23%. The company had revenue of $655.87 million during the quarter, compared to analysts' expectations of $468.47 million. On average, analysts predict that StoneCo Ltd. will post 1.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

STNE has been the subject of a number of research analyst reports. Barclays upped their price objective on StoneCo from $14.00 to $17.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 16th. UBS Group downgraded StoneCo from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Citigroup upped their price objective 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 upgraded StoneCo from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $12.00 to $21.00 in a report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.80.

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.