2,840,900 Shares in StoneCo Ltd. (NASDAQ:STNE) Bought by Norges Bank

Norges Bank purchased a new position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,840,900 shares of the company's stock, valued at approximately $22,642,000. Norges Bank owned about 0.92% of StoneCo as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in shares of StoneCo by 254.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company's stock valued at $34,000 after acquiring an additional 3,056 shares during the period. Newbridge Financial Services Group Inc. raised its position in StoneCo by 166.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,400 shares of the company's stock valued at $51,000 after purchasing an additional 4,000 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in StoneCo during the 4th quarter worth $56,000. Skandinaviska Enskilda Banken AB publ boosted its stake in StoneCo by 31.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 7,500 shares of the company's stock worth $59,000 after purchasing an additional 1,800 shares during the period. Finally, KBC Group NV acquired a new stake in StoneCo during the 4th quarter worth $73,000. Institutional investors and hedge funds own 73.19% of the company's stock.

StoneCo Price Performance

STNE stock traded up $0.55 on Friday, reaching $11.53. 6,673,480 shares of the company's stock were exchanged, compared to its average volume of 5,654,157. The stock has a fifty day moving average of $10.12 and a 200-day moving average of $9.86. The firm has a market cap of $3.56 billion, a PE ratio of 9.01, a P/E/G ratio of 0.41 and a beta of 2.05. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo Ltd. has a twelve month low of $7.72 and a twelve month high of $17.09.

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StoneCo (NASDAQ:STNE - Get Free Report) last issued its earnings results on Tuesday, March 18th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. The company had revenue of $582.20 million for the quarter, compared to analyst estimates of $3.59 billion. StoneCo had a net margin of 16.02% and a return on equity of 13.92%. As a group, equities analysts predict that StoneCo Ltd. will post 1.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on STNE shares. Barclays upped their target price on shares of StoneCo from $10.00 to $12.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their price objective on StoneCo from $21.00 to $15.00 and set an "overweight" rating for the company in a research note on Monday, December 16th. Morgan Stanley increased their price objective on StoneCo from $5.70 to $6.00 and gave the stock an "underweight" rating in a research report on Friday, March 21st. The Goldman Sachs Group cut their price target on StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Finally, Wells Fargo & Company upgraded shares of StoneCo from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have assigned 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.