BNP Paribas Financial Markets Boosts Stake in StoneCo Ltd. (NASDAQ:STNE)

BNP Paribas Financial Markets raised its position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 313.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 472,758 shares of the company's stock after acquiring an additional 358,398 shares during the quarter. BNP Paribas Financial Markets owned about 0.15% of StoneCo worth $5,323,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. boosted its position in StoneCo by 10.2% during the second quarter. Point72 Asset Management L.P. now owns 8,386,945 shares of the company's stock valued at $100,559,000 after acquiring an additional 779,445 shares during the last quarter. Marshall Wace LLP boosted its position in shares of StoneCo by 204.1% during the 2nd quarter. Marshall Wace LLP now owns 7,741,662 shares of the company's stock worth $92,823,000 after purchasing an additional 5,195,787 shares in the last quarter. Coronation Fund Managers Ltd. boosted 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 purchasing an additional 1,111,065 shares in the last quarter. Constellation Investimentos e Participacoes Ltda boosted its position in shares of StoneCo by 30.0% during the 3rd quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company's stock worth $34,316,000 after purchasing an additional 703,249 shares in the last quarter. Finally, Truxt Investmentos Ltda. bought a new position in shares of StoneCo during the 3rd quarter worth about $31,695,000. Institutional investors own 73.19% of the company's stock.

StoneCo Stock Up 1.3 %

NASDAQ:STNE traded up $0.12 on Wednesday, hitting $9.58. The stock had a trading volume of 2,108,886 shares, compared to its average volume of 5,240,561. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $2.96 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 0.34 and a beta of 2.21. StoneCo Ltd. has a 1 year low of $9.06 and a 1 year high of $19.46. The firm's fifty day simple moving average is $10.81 and its two-hundred day simple moving average is $12.18.

Wall Street Analyst Weigh In

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

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.