JPMorgan Chase & Co. Raises Position in StoneCo Ltd. (NASDAQ:STNE)

JPMorgan Chase & Co. lifted its stake in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,696,729 shares of the company's stock after buying an additional 116,050 shares during the period. JPMorgan Chase & Co. owned approximately 0.55% of StoneCo worth $13,523,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of StoneCo by 466.4% in the third quarter. FMR LLC now owns 64,492 shares of the company's stock valued at $726,000 after purchasing an additional 53,106 shares during the period. State Street Corp raised its position in shares of StoneCo by 51.0% in the third 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. XTX Topco Ltd bought a new position in StoneCo in the 3rd quarter worth approximately $167,000. Nomura Asset Management Co. Ltd. boosted its holdings in StoneCo by 1,658.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 29,900 shares of the company's stock valued at $337,000 after purchasing an additional 28,200 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in StoneCo during the third quarter worth $211,000. 73.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STNE has been the subject of a number of research reports. The Goldman Sachs Group lowered their price target on shares of StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Morgan Stanley upped their price objective on StoneCo from $5.70 to $6.00 and gave the stock an "underweight" rating in a research note on Friday, March 21st. Wells Fargo & Company raised StoneCo from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, March 19th. Barclays raised their price target on StoneCo from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. Finally, Citigroup reissued a "neutral" rating and set a $9.00 price target (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $14.50.

StoneCo Stock Performance

STNE stock traded up $0.23 during mid-day trading on Thursday, hitting $12.06. The company had a trading volume of 1,108,004 shares, compared to its average volume of 6,525,035. StoneCo Ltd. has a 12 month low of $7.72 and a 12 month high of $17.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. The stock's fifty day moving average price is $10.28 and its two-hundred day moving average price is $9.88. The firm has a market cap of $3.72 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.41 and a beta of 2.05.

StoneCo (NASDAQ:STNE - Get Free Report) last posted its earnings results on Tuesday, March 18th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. StoneCo had a return on equity of 13.92% and a net margin of 16.02%. The business had revenue of $582.20 million during the quarter, compared to analysts' expectations of $3.59 billion. On average, analysts forecast that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

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.