BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Takes Position in StoneCo Ltd. (NASDAQ:STNE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 98,000 shares of the company's stock, valued at approximately $1,103,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP grew its stake in shares of StoneCo by 204.1% in the 2nd 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 period. Truxt Investmentos Ltda. bought a new position in shares of StoneCo during the third quarter valued at $31,695,000. Hsbc Holdings PLC boosted its stake in shares of StoneCo by 2,445.5% in the 2nd quarter. Hsbc Holdings PLC now owns 2,287,353 shares of the company's stock valued at $27,151,000 after purchasing an additional 2,197,495 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of StoneCo in the 2nd quarter valued at $23,483,000. Finally, Fourth Sail Capital LP acquired a new stake in shares of StoneCo during the 2nd quarter worth about $21,323,000. 73.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley restated an "underweight" rating and set a $7.00 target price (down previously from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. UBS Group increased their price objective on StoneCo from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Susquehanna lowered their price target on shares of StoneCo from $22.00 to $19.00 and set a "positive" rating on the stock in a research note on Wednesday, November 13th. Barclays cut their price objective on StoneCo from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. Finally, Cantor Fitzgerald raised shares of StoneCo to a "strong-buy" rating in a research 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 stock. According to MarketBeat, StoneCo has a consensus rating of "Moderate Buy" and an average target price of $16.89.

StoneCo Price Performance

Shares of StoneCo stock traded down $0.25 on Friday, hitting $9.14. 4,211,230 shares of the company traded hands, compared to its average volume of 5,252,624. The firm's 50-day simple moving average is $10.75 and its 200 day simple moving average is $12.14. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. The company has a market cap of $2.82 billion, a P/E ratio of 7.34, a P/E/G ratio of 0.33 and a beta of 2.21. StoneCo Ltd. has a 12-month low of $9.06 and a 12-month high of $19.46.

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.