Avantax Advisory Services Inc. Invests $587,000 in StoneCo Ltd. (NASDAQ:STNE)

Avantax Advisory Services Inc. bought a new position in StoneCo Ltd. (NASDAQ:STNE - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 73,712 shares of the company's stock, valued at approximately $587,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. HighTower Advisors LLC purchased a new position in StoneCo during the fourth quarter valued at approximately $312,000. SPX Gestao de Recursos Ltda boosted its holdings in StoneCo by 3,248.6% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 1,813,588 shares of the company's stock worth $14,454,000 after buying an additional 1,759,429 shares during the period. Gallagher Capital Advisors LLC purchased a new stake in StoneCo in the 4th quarter worth $144,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in StoneCo by 55.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,382 shares of the company's stock valued at $768,000 after acquiring an additional 34,404 shares during the period. Finally, Ruffer LLP purchased a new position in shares of StoneCo in the fourth quarter valued at about $560,000. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

StoneCo Trading Down 0.5 %

NASDAQ STNE traded down $0.06 during trading hours on Wednesday, hitting $11.39. 5,382,089 shares of the company were exchanged, compared to its average volume of 5,459,330. StoneCo Ltd. has a 52 week low of $7.72 and a 52 week high of $17.93. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $9.49 and a 200 day moving average price of $9.92. The stock has a market cap of $3.52 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.41 and a beta of 2.33.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of StoneCo from an "equal weight" rating to an "overweight" rating in a report on Wednesday, March 19th. Barclays boosted their price target on shares of StoneCo from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Morgan Stanley increased their price objective on shares of StoneCo from $5.70 to $6.00 and gave the company an "underweight" rating in a report on Friday, March 21st. Citigroup reaffirmed a "neutral" rating and issued a $9.00 target price (down from $19.00) on shares of StoneCo in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. dropped their price target on StoneCo from $21.00 to $15.00 and set an "overweight" rating for the company in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.50.

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.