Scotia Capital Inc. decreased its position in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,000 shares of the company's stock after selling 25,400 shares during the period. Scotia Capital Inc.'s holdings in StoneCo were worth $669,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its position in StoneCo by 51.0% during the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company's stock valued at $89,765,000 after purchasing an additional 2,692,558 shares during the period. Geode Capital Management LLC lifted its holdings in StoneCo by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 5,419,797 shares of the company's stock valued at $43,120,000 after buying an additional 229,453 shares during the period. Norges Bank bought a new position in StoneCo in the fourth quarter valued at approximately $22,642,000. SPX Gestao de Recursos Ltda grew its holdings in StoneCo by 3,248.6% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 1,813,588 shares of the company's stock worth $14,454,000 after acquiring an additional 1,759,429 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of StoneCo by 7.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,696,729 shares of the company's stock valued at $13,523,000 after acquiring an additional 116,050 shares during the last quarter. Institutional investors own 73.19% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on STNE shares. The Goldman Sachs Group decreased their price objective on StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Morgan Stanley boosted their target price on StoneCo from $5.70 to $6.00 and gave the stock an "underweight" rating in a research report on Friday, March 21st. Wells Fargo & Company upgraded shares of StoneCo from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, March 19th. Citigroup reissued a "neutral" rating and set a $9.00 price objective (down previously from $19.00) on shares of StoneCo in a research note on Thursday, January 16th. Finally, Barclays upped their target price on shares of StoneCo from $10.00 to $12.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.
View Our Latest Stock Report on StoneCo
StoneCo Stock Up 3.6 %
STNE traded up $0.43 during trading on Friday, hitting $12.26. The company had a trading volume of 5,129,305 shares, compared to its average volume of 5,682,733. The firm's 50-day moving average price is $10.39 and its 200 day moving average price is $9.88. The company has a market capitalization of $3.79 billion, a PE ratio of 9.58, a PEG ratio of 0.41 and a beta of 2.05. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo Ltd. has a one year low of $7.72 and a one year high of $17.09.
StoneCo (NASDAQ:STNE - Get Free Report) last posted its quarterly earnings data on Tuesday, March 18th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. The company had revenue of $582.20 million during the quarter, compared to analysts' expectations of $3.59 billion. StoneCo had a return on equity of 13.92% and a net margin of 16.02%. As a group, equities analysts expect that StoneCo Ltd. will post 1.16 earnings per share for the current year.
StoneCo Company Profile
(
Free Report)
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.
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