Charles Schwab Investment Management Inc. Has $13.72 Million Holdings in StoneCo Ltd. (NASDAQ:STNE)

Charles Schwab Investment Management Inc. trimmed its position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,218,361 shares of the company's stock after selling 130,388 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.39% of StoneCo worth $13,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in STNE. AlphaMark Advisors LLC lifted its holdings in shares of StoneCo by 15.4% during the 2nd quarter. AlphaMark Advisors LLC now owns 19,496 shares of the company's stock valued at $234,000 after buying an additional 2,608 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of StoneCo by 0.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 610,938 shares of the company's stock valued at $7,325,000 after buying an additional 3,821 shares during the last quarter. Coronation Fund Managers Ltd. raised its stake in shares of StoneCo by 16.0% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 2,841,696 shares of the company's stock valued at $34,072,000 after acquiring an additional 392,958 shares in the last quarter. Central Bank & Trust Co. bought a new position in shares of StoneCo in the 2nd quarter valued at approximately $40,000. Finally, Canton Hathaway LLC raised its stake in shares of StoneCo by 32.3% in the 2nd quarter. Canton Hathaway LLC now owns 135,503 shares of the company's stock valued at $1,625,000 after acquiring an additional 33,100 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

StoneCo Price Performance

NASDAQ STNE traded up $0.07 on Monday, reaching $9.23. The company's stock had a trading volume of 5,272,254 shares, compared to its average volume of 5,265,439. StoneCo Ltd. has a 52 week low of $9.06 and a 52 week high of $19.46. 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 firm has a market cap of $2.85 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 0.32 and a beta of 2.21. The business has a 50-day moving average price of $10.70 and a 200 day moving average price of $12.06.

StoneCo 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.