StoneCo (NASDAQ:STNE) Stock Price Up 4.7% - Here's What Happened

StoneCo Ltd. (NASDAQ:STNE - Get Free Report)'s share price traded up 4.7% during mid-day trading on Monday . The company traded as high as $14.24 and last traded at $14.40. 1,320,751 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 6,459,930 shares. The stock had previously closed at $13.75.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on STNE shares. Citigroup upgraded StoneCo from a "neutral" rating to a "buy" rating and upped their target price for the stock from $9.00 to $15.00 in a report on Tuesday, April 22nd. Wells Fargo & Company raised StoneCo from an "equal weight" rating to an "overweight" rating in a report on Wednesday, March 19th. Barclays increased their target price on StoneCo from $12.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 23rd. Morgan Stanley increased 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. Finally, The Goldman Sachs Group cut their price target on StoneCo from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.38.

StoneCo Price Performance

The stock has a fifty day simple moving average of $10.73 and a two-hundred day simple moving average of $9.95. The company has a market cap of $4.33 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 0.41 and a beta of 2.05. 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 posted its quarterly earnings data on Tuesday, March 18th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.59 billion. On average, equities analysts predict that StoneCo Ltd. will post 1.16 EPS for the current fiscal year.

Institutional Trading of StoneCo

Large investors have recently modified their holdings of the company. Squadra Investments Gestao DE Recursos LTDA. boosted its holdings in shares of StoneCo by 46.8% during the fourth quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 13,951,183 shares of the company's stock worth $111,191,000 after purchasing an additional 4,446,709 shares during the period. Norges Bank acquired a new stake in shares of StoneCo in the fourth quarter valued at approximately $22,642,000. Point72 Asset Management L.P. boosted its stake in StoneCo by 22.2% in the fourth quarter. Point72 Asset Management L.P. now owns 13,956,554 shares of the company's stock valued at $111,234,000 after acquiring an additional 2,534,079 shares during the last quarter. Atmos Capital Gestao DE Recursos LTDA. boosted its position in shares of StoneCo by 23.0% during the fourth quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 11,623,836 shares of the company's stock worth $92,642,000 after purchasing an additional 2,173,389 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of StoneCo by 40.3% in the fourth quarter. Nuveen Asset Management LLC now owns 6,993,611 shares of the company's stock worth $55,739,000 after acquiring an additional 2,008,710 shares in the last quarter. Institutional investors and hedge funds own 73.19% of the company's stock.

About StoneCo

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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