StoneCo Ltd. (NASDAQ:STNE) Stake Lessened by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. cut its stake in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 51.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,793,497 shares of the company's stock after selling 1,879,962 shares during the period. Coronation Fund Managers Ltd. owned 0.58% of StoneCo worth $14,294,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. grew its position in shares of StoneCo by 166.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,400 shares of the company's stock worth $51,000 after acquiring an additional 4,000 shares during the last quarter. KBC Group NV acquired a new stake in shares of StoneCo in the fourth quarter valued at approximately $73,000. Tempus Wealth Planning LLC acquired a new stake in shares of StoneCo in the fourth quarter valued at approximately $124,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of StoneCo during the third quarter valued at approximately $125,000. Finally, Covestor Ltd boosted its position in shares of StoneCo by 40.9% during the third quarter. Covestor Ltd now owns 13,350 shares of the company's stock worth $150,000 after buying an additional 3,878 shares during the period. 73.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on STNE shares. Citigroup reaffirmed a "neutral" rating and set a $9.00 target price (down previously from $19.00) on shares of StoneCo in a research note on Thursday, January 16th. JPMorgan Chase & Co. cut their price objective on shares of StoneCo from $21.00 to $15.00 and set an "overweight" rating on the stock in a research note on Monday, December 16th. Susquehanna decreased their target price on shares of StoneCo from $22.00 to $19.00 and set a "positive" rating for the company in a research report on Wednesday, November 13th. Barclays dropped their price target on shares of StoneCo from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group decreased their price objective on shares of StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.38.

StoneCo Price Performance

Shares of NASDAQ STNE traded up $0.14 during midday trading on Thursday, reaching $9.37. The company's stock had a trading volume of 4,296,874 shares, compared to its average volume of 5,159,973. StoneCo Ltd. has a one year low of $7.72 and a one year high of $17.93. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 7.32, a price-to-earnings-growth ratio of 0.37 and a beta of 2.25. The company has a 50 day moving average price of $8.62 and a 200 day moving average price of $10.61. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47.

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.