StoneCo (NASDAQ:STNE) Shares Gap Down - Here's What Happened

StoneCo Ltd. (NASDAQ:STNE - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $13.52, but opened at $12.89. StoneCo shares last traded at $13.36, with a volume of 1,369,223 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Santander raised StoneCo from a "neutral" rating to an "outperform" rating in a research report on Wednesday, May 21st. Citigroup upgraded shares of StoneCo from a "neutral" rating to a "buy" rating and lifted their price target for the company from $9.00 to $15.00 in a research report on Tuesday, April 22nd. Wall Street Zen raised StoneCo from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Wells Fargo & Company upgraded shares of StoneCo from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, March 19th. Finally, Morgan Stanley boosted their target price on StoneCo from $5.70 to $6.00 and gave the stock an "underweight" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, StoneCo has a consensus rating of "Moderate Buy" and an average target price of $15.63.

StoneCo Price Performance

The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 0.41 and a beta of 2.01. The business's 50-day simple moving average is $12.43 and its two-hundred day simple moving average is $10.32. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47.

StoneCo (NASDAQ:STNE - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $625.86 million during the quarter, compared to analysts' expectations of $3.68 billion. StoneCo had a return on equity of 13.92% and a net margin of 16.02%. As a group, research analysts expect that StoneCo Ltd. will post 1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On StoneCo

Large investors have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in StoneCo in the 1st quarter valued at $70,000. Intech Investment Management LLC boosted its stake in shares of StoneCo by 10.5% in the 1st quarter. Intech Investment Management LLC now owns 180,665 shares of the company's stock worth $1,893,000 after buying an additional 17,192 shares during the last quarter. Atmos Capital Gestao DE Recursos LTDA. boosted its stake in StoneCo by 3.1% in the first quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 11,982,873 shares of the company's stock valued at $125,581,000 after acquiring an additional 359,037 shares during the last quarter. PenderFund Capital Management Ltd. purchased a new position in StoneCo in the first quarter valued at approximately $1,572,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in StoneCo by 65.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,742 shares of the company's stock valued at $15,887,000 after purchasing an additional 599,313 shares during the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

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.