Royal London Asset Management Ltd. Buys Shares of 177,300 StoneCo Ltd. (NASDAQ:STNE)

Royal London Asset Management Ltd. acquired a new position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 177,300 shares of the company's stock, valued at approximately $1,413,000. Royal London Asset Management Ltd. owned about 0.06% of StoneCo as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of StoneCo by 327.4% in the third quarter. JPMorgan Chase & Co. now owns 1,580,679 shares of the company's stock valued at $17,798,000 after buying an additional 1,210,817 shares during the last quarter. State Street Corp raised its stake in StoneCo by 51.0% during the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company's stock valued at $89,765,000 after acquiring an additional 2,692,558 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in StoneCo during the 3rd quarter worth approximately $9,091,000. Barclays PLC grew its stake in shares of StoneCo by 170.8% in the 3rd quarter. Barclays PLC now owns 440,682 shares of the company's stock valued at $4,962,000 after purchasing an additional 277,963 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of StoneCo by 313.4% during the third quarter. BNP Paribas Financial Markets now owns 472,758 shares of the company's stock worth $5,323,000 after purchasing an additional 358,398 shares during the period. Institutional investors and hedge funds own 73.19% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STNE. Citigroup reissued a "neutral" rating and issued a $9.00 price objective (down from $19.00) on shares of StoneCo in a research note on Thursday, January 16th. Barclays increased their price target on shares of StoneCo from $10.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday. JPMorgan Chase & Co. lowered their price objective on StoneCo from $21.00 to $15.00 and set an "overweight" rating on the stock in a report on Monday, December 16th. Morgan Stanley boosted their target price on StoneCo from $5.70 to $6.00 and gave the stock an "underweight" rating in a research report on Friday. Finally, The Goldman Sachs Group reduced their price target on StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, StoneCo presently has an average rating of "Moderate Buy" and a consensus price target of $14.50.

StoneCo Price Performance

StoneCo stock traded up $0.13 during trading hours on Tuesday, hitting $11.45. The stock had a trading volume of 6,691,157 shares, compared to its average volume of 5,456,876. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 0.41 and a beta of 2.33. 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 Ltd. has a 1-year low of $7.72 and a 1-year high of $17.93. The stock's fifty day moving average is $9.42 and its two-hundred day moving average is $9.92.

StoneCo (NASDAQ:STNE - Get Free Report) last posted its earnings results on Tuesday, March 18th. The company reported $0.39 earnings per share 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 firm had revenue of $582.20 million during the quarter, compared to the consensus estimate of $3.59 billion. As a group, analysts predict that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal 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.