Citigroup Inc. Buys 1,144,341 Shares of StoneCo Ltd. (NASDAQ:STNE)

Citigroup Inc. lifted its position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 584.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,339,972 shares of the company's stock after buying an additional 1,144,341 shares during the quarter. Citigroup Inc. owned approximately 0.43% of StoneCo worth $15,088,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of STNE. Point72 Asset Management L.P. grew 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 valued at $100,559,000 after buying an additional 779,445 shares in the last quarter. Marshall Wace LLP increased its holdings in 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 acquiring an additional 5,195,787 shares during the last quarter. Coronation Fund Managers Ltd. boosted its holdings 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 valued at $41,363,000 after purchasing 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% during the third quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company's stock valued at $34,316,000 after purchasing an additional 703,249 shares in the last quarter. Finally, Truxt Investmentos Ltda. purchased a new position in shares of StoneCo during the third quarter valued at about $31,695,000. Institutional investors own 73.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on STNE shares. Cantor Fitzgerald raised StoneCo to a "strong-buy" rating in a research note on Thursday, October 3rd. UBS Group raised their target price on shares of StoneCo from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Barclays reduced their price target 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. Susquehanna dropped their price objective on shares of StoneCo from $22.00 to $19.00 and set a "positive" rating for the company in a research note on Wednesday, November 13th. Finally, Morgan Stanley restated an "underweight" rating and issued a $7.00 target price (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.89.

StoneCo Stock Down 2.7 %

Shares of NASDAQ:STNE opened at $10.41 on Thursday. The firm has a market capitalization of $3.22 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 0.38 and a beta of 2.29. The business has a 50 day simple moving average of $10.99 and a two-hundred day simple moving average of $12.37. 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.

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.