Bank of Montreal Can Trims Holdings in StoneCo Ltd. (NASDAQ:STNE)

Bank of Montreal Can reduced its position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 36.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,061 shares of the company's stock after selling 150,630 shares during the period. Bank of Montreal Can owned about 0.08% of StoneCo worth $2,994,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. lifted its holdings in StoneCo by 10.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 8,386,945 shares of the company's stock worth $100,559,000 after buying an additional 779,445 shares during the last quarter. Marshall Wace LLP increased its stake in StoneCo by 204.1% in the second quarter. Marshall Wace LLP now owns 7,741,662 shares of the company's stock valued at $92,823,000 after purchasing an additional 5,195,787 shares during the last quarter. Coronation Fund Managers Ltd. lifted its position in shares of StoneCo by 43.4% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company's stock worth $41,363,000 after buying an additional 1,111,065 shares during the last quarter. Constellation Investimentos e Participacoes Ltda grew its position in shares of StoneCo by 30.0% in the 3rd quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company's stock valued at $34,316,000 after buying an additional 703,249 shares during the last quarter. Finally, Truxt Investmentos Ltda. purchased a new stake in StoneCo in the third quarter valued at $31,695,000. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Price Performance

Shares of NASDAQ STNE traded down $0.14 during trading on Thursday, hitting $9.39. 6,105,055 shares of the company were exchanged, compared to its average volume of 5,258,515. StoneCo Ltd. has a 1 year low of $9.06 and a 1 year high of $19.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.33 and a beta of 2.21. The firm's fifty day moving average price is $10.78 and its 200 day moving average price is $12.16.

Analyst Ratings Changes

A number of research firms recently issued reports on STNE. Susquehanna dropped their price target on StoneCo from $22.00 to $19.00 and set a "positive" rating on the stock in a research note on Wednesday, November 13th. Morgan Stanley reissued an "underweight" rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Barclays dropped their price target on StoneCo from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Monday, November 18th. UBS Group increased their price objective on StoneCo from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald upgraded StoneCo to a "strong-buy" rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, StoneCo presently has an average rating of "Moderate Buy" and a consensus target price of $16.89.

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.