Charles Schwab Investment Management Inc. reduced its stake in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 22.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 939,522 shares of the company's stock after selling 278,839 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.30% of StoneCo worth $7,488,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of STNE. Point72 Asset Management L.P. grew its position in StoneCo by 36.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company's stock worth $128,617,000 after acquiring an additional 3,035,530 shares during the last quarter. State Street Corp boosted its stake in StoneCo by 51.0% in the third quarter. State Street Corp now owns 7,972,037 shares of the company's stock valued at $89,765,000 after acquiring an additional 2,692,558 shares during the last quarter. Geode Capital Management LLC grew its holdings in StoneCo by 36.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company's stock worth $58,302,000 after acquiring an additional 1,374,788 shares during the period. JPMorgan Chase & Co. raised its position in shares of StoneCo by 327.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,580,679 shares of the company's stock valued at $17,798,000 after acquiring an additional 1,210,817 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in shares of StoneCo by 584.9% in the 3rd quarter. Citigroup Inc. now owns 1,339,972 shares of the company's stock valued at $15,088,000 after purchasing an additional 1,144,341 shares during the period. 73.19% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on STNE shares. Citigroup reiterated a "neutral" rating and issued a $9.00 price objective (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. Wells Fargo & Company upgraded shares of StoneCo from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price objective on shares of StoneCo from $21.00 to $15.00 and set an "overweight" rating for the company in a report on Monday, December 16th. Barclays increased their target price on shares of StoneCo from $10.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, The Goldman Sachs Group lowered their price objective on shares of StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, StoneCo presently has an average rating of "Moderate Buy" and a consensus target price of $14.50.
Check Out Our Latest Research Report on STNE
StoneCo Price Performance
Shares of STNE traded up $0.25 during midday trading on Tuesday, hitting $11.57. The company's stock had a trading volume of 3,406,463 shares, compared to its average volume of 5,450,915. The company's fifty day simple moving average is $9.42 and its two-hundred day simple moving average is $9.92. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.41 and a beta of 2.33. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo Ltd. has a one year low of $7.72 and a one year high of $17.93.
StoneCo (NASDAQ:STNE - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. StoneCo had a net margin of 16.02% and a return on equity of 13.92%. The company had revenue of $582.20 million for the quarter, compared to analyst estimates of $3.59 billion. As a group, equities analysts expect that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.
StoneCo Profile
(
Free Report)
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.
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