Coronation Fund Managers Ltd. Has $41.36 Million Stock Position in StoneCo Ltd. (NASDAQ:STNE)

Coronation Fund Managers Ltd. raised its position in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 43.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,673,459 shares of the company's stock after acquiring an additional 1,111,065 shares during the period. StoneCo comprises 2.3% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 16th biggest position. Coronation Fund Managers Ltd. owned about 1.19% of StoneCo worth $41,363,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of STNE. Commonwealth Equity Services LLC lifted its stake in StoneCo by 31.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 49,501 shares of the company's stock valued at $822,000 after acquiring an additional 11,873 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of StoneCo by 20.4% during the 1st quarter. Private Advisor Group LLC now owns 39,566 shares of the company's stock worth $657,000 after purchasing an additional 6,692 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of StoneCo by 120.6% during the 1st quarter. GSA Capital Partners LLP now owns 69,751 shares of the company's stock worth $1,159,000 after purchasing an additional 38,135 shares in the last quarter. Stokes Family Office LLC raised its stake in shares of StoneCo by 16.8% during the 1st quarter. Stokes Family Office LLC now owns 14,600 shares of the company's stock worth $243,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of StoneCo during the 1st quarter worth approximately $4,162,000. Institutional investors own 73.19% of the company's stock.

StoneCo Stock Performance

NASDAQ STNE traded down $0.02 on Friday, reaching $11.08. The stock had a trading volume of 4,799,886 shares, compared to its average volume of 2,425,873. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a fifty day moving average of $11.65 and a two-hundred day moving average of $13.05. StoneCo Ltd. has a 1-year low of $9.96 and a 1-year high of $19.46. The company has a market cap of $3.42 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 0.39 and a beta of 2.29.

StoneCo (NASDAQ:STNE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.04). StoneCo had a net margin of 15.27% and a return on equity of 13.21%. The firm had revenue of $615.13 million during the quarter, compared to analyst estimates of $590.74 million. On average, equities research analysts anticipate that StoneCo Ltd. will post 1.21 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STNE. Barclays dropped their price objective on StoneCo from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley reiterated an "underweight" rating and set a $7.00 price objective (down previously from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. UBS Group upped their price objective on StoneCo from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald upgraded StoneCo to a "strong-buy" rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.70.

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.