Intech Investment Management LLC Acquires Shares of 102,464 StoneCo Ltd. (NASDAQ:STNE)

Intech Investment Management LLC bought a new stake in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 102,464 shares of the company's stock, valued at approximately $1,154,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Swiss National Bank purchased a new position in StoneCo during the 3rd quarter valued at about $6,419,000. Thrivent Financial for Lutherans increased its position in StoneCo by 9.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 19,877 shares of the company's stock valued at $224,000 after purchasing an additional 1,773 shares during the period. Koa Wealth Management LLC boosted its holdings in shares of StoneCo by 2.1% in the 3rd quarter. Koa Wealth Management LLC now owns 160,709 shares of the company's stock valued at $1,810,000 after buying an additional 3,289 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of StoneCo by 37.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,689,839 shares of the company's stock valued at $19,028,000 after buying an additional 457,856 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of StoneCo in the 3rd quarter valued at about $716,000. Hedge funds and other institutional investors own 73.19% of the company's stock.

StoneCo Stock Performance

NASDAQ STNE traded down $0.29 on Wednesday, hitting $10.41. 7,530,711 shares of the company's stock traded hands, compared to its average volume of 5,215,412. 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 Ltd. has a 1-year low of $9.06 and a 1-year high of $19.46. The firm's 50-day moving average price is $10.99 and its two-hundred day moving average price is $12.37. The firm has a market capitalization of $3.22 billion, a PE ratio of 8.29, a P/E/G ratio of 0.38 and a beta of 2.29.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley restated an "underweight" rating and issued a $7.00 price target (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. UBS Group raised their price target 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 lowered their price target on shares of StoneCo from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Monday, November 18th. 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 report on Wednesday, November 13th. Finally, Cantor Fitzgerald upgraded shares of StoneCo to a "strong-buy" rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, StoneCo presently has an average rating of "Moderate Buy" and a consensus target price of $16.89.

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.