StoneCo Ltd. (NASDAQ:STNE) Shares Sold by Koa Wealth Management LLC

Koa Wealth Management LLC lowered its position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 54.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,003 shares of the company's stock after selling 87,706 shares during the quarter. Koa Wealth Management LLC's holdings in StoneCo were worth $582,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. KBC Group NV purchased a new position in StoneCo in the fourth quarter worth $73,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of StoneCo in the 3rd quarter valued at about $125,000. Covestor Ltd lifted its stake in shares of StoneCo by 40.9% in the third quarter. Covestor Ltd now owns 13,350 shares of the company's stock valued at $150,000 after purchasing an additional 3,878 shares during the period. Sanctuary Advisors LLC purchased a new stake in StoneCo during the third quarter worth about $156,000. Finally, XTX Topco Ltd purchased a new stake in StoneCo during the third quarter worth about $167,000. Institutional investors and hedge funds own 73.19% of the company's stock.

StoneCo Price Performance

STNE stock traded up $0.59 during trading on Tuesday, hitting $9.48. The stock had a trading volume of 4,005,076 shares, compared to its average volume of 5,137,008. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 0.37 and a beta of 2.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. The company's 50 day moving average price is $8.71 and its two-hundred day moving average price is $10.79. StoneCo Ltd. has a 1-year low of $7.72 and a 1-year high of $19.46.

Analyst Ratings Changes

A number of research firms have recently issued reports on STNE. Barclays reduced their price target on shares of StoneCo from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Susquehanna reduced their price objective on StoneCo from $22.00 to $19.00 and set a "positive" rating for the company in a report on Wednesday, November 13th. Citigroup reissued a "neutral" rating and issued a $9.00 target price (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their price target on StoneCo from $21.00 to $15.00 and set an "overweight" rating for the company in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $14.50.

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.