Assenagon Asset Management S.A. lowered its stake in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 63.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 109,379 shares of the company's stock after selling 189,715 shares during the period. Assenagon Asset Management S.A.'s holdings in StoneCo were worth $872,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its position in StoneCo by 36.2% during the third quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company's stock valued at $128,617,000 after purchasing an additional 3,035,530 shares during the period. State Street Corp boosted its stake in shares of StoneCo by 51.0% in the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company's stock worth $89,765,000 after buying an additional 2,692,558 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of StoneCo by 36.0% in the third quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company's stock worth $58,302,000 after acquiring an additional 1,374,788 shares during the period. Coronation Fund Managers Ltd. grew its holdings in shares of StoneCo by 43.4% in the third quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company's stock worth $41,363,000 after acquiring an additional 1,111,065 shares during the period. Finally, Constellation Investimentos e Participacoes Ltda increased its position in StoneCo by 30.0% during the third quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company's stock valued at $34,316,000 after acquiring an additional 703,249 shares during the last quarter. Hedge funds and other institutional investors own 73.19% of the company's stock.
StoneCo Price Performance
NASDAQ STNE traded up $0.13 on Friday, reaching $8.69. The company had a trading volume of 5,422,543 shares, compared to its average volume of 4,124,053. The firm's 50 day moving average price is $8.79 and its 200 day moving average price is $10.99. StoneCo Ltd. has a 12 month low of $7.72 and a 12 month high of $19.46. The stock has a market capitalization of $2.68 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 0.34 and a beta of 2.23. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on STNE shares. Barclays cut their price target on StoneCo from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Monday, November 18th. Susquehanna reduced their target price on shares of StoneCo from $22.00 to $19.00 and set a "positive" rating for the company in a report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their price target on shares of StoneCo from $21.00 to $15.00 and set an "overweight" rating on the stock in a research report on Monday, December 16th. Citigroup reissued a "neutral" rating and set a $9.00 price objective (down previously from $19.00) on shares of StoneCo in a research report on Thursday, January 16th. Finally, Cantor Fitzgerald upgraded StoneCo to a "strong-buy" rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, StoneCo currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.75.
Read Our Latest Report on StoneCo
About StoneCo
(
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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