StoneCo Ltd. (NASDAQ:STNE) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 327.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,580,679 shares of the company's stock after purchasing an additional 1,210,817 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.51% of StoneCo worth $17,798,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STNE. Y.D. More Investments Ltd increased its stake in shares of StoneCo by 90.2% in the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company's stock worth $58,000 after acquiring an additional 2,275 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of StoneCo during the third quarter valued at approximately $125,000. Point72 Hong Kong Ltd purchased a new position in shares of StoneCo during the second quarter valued at approximately $135,000. Covestor Ltd boosted its position in shares of StoneCo by 40.9% in the 3rd quarter. Covestor Ltd now owns 13,350 shares of the company's stock worth $150,000 after purchasing an additional 3,878 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of StoneCo in the 3rd quarter worth approximately $156,000. Hedge funds and other institutional investors own 73.19% of the company's stock.

StoneCo Trading Down 1.5 %

STNE traded down $0.12 during trading on Friday, hitting $7.85. 7,304,615 shares of the stock were exchanged, compared to its average volume of 5,106,169. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 6.13, a P/E/G ratio of 0.35 and a beta of 2.23. The firm has a 50 day simple moving average of $9.36 and a 200 day simple moving average of $11.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. StoneCo Ltd. has a 1 year low of $7.73 and a 1 year high of $19.46.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on STNE. Susquehanna lowered their price objective on StoneCo from $22.00 to $19.00 and set a "positive" rating for the company in a research note on Wednesday, November 13th. JPMorgan Chase & Co. decreased their target price 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. Cantor Fitzgerald raised StoneCo to a "strong-buy" rating in a report on Thursday, October 3rd. Finally, Barclays dropped their target price 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given 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 an average price target of $16.13.

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.