Creative Planning Acquires 45,218 Shares of StoneCo Ltd. (NASDAQ:STNE)

Creative Planning increased its holdings in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 224.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,321 shares of the company's stock after acquiring an additional 45,218 shares during the quarter. Creative Planning's holdings in StoneCo were worth $736,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in STNE. Lazard Asset Management LLC bought a new position in shares of StoneCo in the 1st quarter worth about $41,000. Central Bank & Trust Co. acquired a new position in StoneCo in the second quarter valued at approximately $40,000. Y.D. More Investments Ltd grew its holdings in shares of StoneCo by 90.2% during the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company's stock valued at $58,000 after purchasing an additional 2,275 shares during the last quarter. Invst LLC acquired a new stake in shares of StoneCo during the 1st quarter worth approximately $172,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of StoneCo in the 2nd quarter worth approximately $135,000. Institutional investors and hedge funds own 73.19% of the company's stock.

Analyst Upgrades and Downgrades

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

StoneCo Stock Up 2.3 %

NASDAQ:STNE traded up $0.26 during trading hours on Monday, reaching $11.34. The company's stock had a trading volume of 3,287,420 shares, compared to its average volume of 5,088,973. StoneCo Ltd. has a one year low of $10.20 and a one year high of $19.46. The business's 50-day moving average is $11.65 and its 200-day moving average is $13.04. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 0.39 and a beta of 2.29. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.36 and a quick ratio of 1.36.

StoneCo (NASDAQ:STNE - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.30 earnings per share (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 for the quarter, compared to the consensus estimate of $590.74 million. Equities research analysts predict that StoneCo Ltd. will post 1.21 EPS for the current year.

About StoneCo

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.