Pictet Asset Management Holding SA increased its stake in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 22.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,237 shares of the company's stock after purchasing an additional 43,521 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.08% of StoneCo worth $1,875,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in STNE. Norges Bank purchased a new position in shares of StoneCo in the fourth quarter worth $22,642,000. JPMorgan Chase & Co. lifted its position in StoneCo by 7.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,696,729 shares of the company's stock worth $13,523,000 after acquiring an additional 116,050 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in StoneCo by 3.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 86,750 shares of the company's stock worth $691,000 after acquiring an additional 3,296 shares during the period. Prudential Financial Inc. increased its holdings in shares of StoneCo by 17.7% in the fourth quarter. Prudential Financial Inc. now owns 23,220 shares of the company's stock valued at $185,000 after purchasing an additional 3,500 shares during the period. Finally, LPL Financial LLC raised its stake in shares of StoneCo by 15.8% in the fourth quarter. LPL Financial LLC now owns 87,015 shares of the company's stock worth $694,000 after purchasing an additional 11,871 shares during the last quarter. Institutional investors own 73.19% of the company's stock.
StoneCo Stock Up 6.2 %
Shares of NASDAQ STNE traded up $0.65 during midday trading on Wednesday, hitting $11.08. 8,019,831 shares of the company's stock were exchanged, compared to its average volume of 5,629,096. The firm's fifty day simple moving average is $10.04 and its 200-day simple moving average is $9.86. The company has a market cap of $3.42 billion, a PE ratio of 8.66, a P/E/G ratio of 0.41 and a beta of 2.05. StoneCo Ltd. has a twelve month low of $7.72 and a twelve month high of $17.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42.
StoneCo (NASDAQ:STNE - Get Free Report) last released its quarterly earnings data on Tuesday, March 18th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. StoneCo had a net margin of 16.02% and a return on equity of 13.92%. The company had revenue of $582.20 million during the quarter, compared to the consensus estimate of $3.59 billion. Research analysts predict that StoneCo Ltd. will post 1.16 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on STNE shares. Citigroup reissued a "neutral" rating and set a $9.00 target price (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. JPMorgan Chase & Co. lowered their target price on StoneCo from $21.00 to $15.00 and set an "overweight" rating on the stock in a research note on Monday, December 16th. Morgan Stanley boosted their price target on StoneCo from $5.70 to $6.00 and gave the company an "underweight" rating in a report on Friday, March 21st. Barclays boosted their target price on shares of StoneCo from $10.00 to $12.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company raised shares of StoneCo from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.50.
View Our Latest Research Report on STNE
StoneCo Company Profile
(
Free Report)
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.
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