Royal London Asset Management Ltd. acquired a new stake in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) during the fourth quarter, according to the company in its most recent filing 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 0.06% of StoneCo as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in StoneCo by 9.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 19,877 shares of the company's stock worth $224,000 after buying an additional 1,773 shares during the last quarter. Swiss National Bank bought a new position in StoneCo during the third quarter worth $6,419,000. Intech Investment Management LLC acquired a new position in StoneCo in the third quarter worth $1,154,000. Citigroup Inc. increased its stake in StoneCo by 584.9% during the third quarter. Citigroup Inc. now owns 1,339,972 shares of the company's stock valued at $15,088,000 after purchasing an additional 1,144,341 shares during the last quarter. Finally, Independent Advisor Alliance increased its stake in StoneCo by 23.7% during the third quarter. Independent Advisor Alliance now owns 36,295 shares of the company's stock valued at $409,000 after purchasing an additional 6,947 shares during the last quarter. 73.19% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
STNE has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price objective on shares of StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Barclays raised their price target on StoneCo from $10.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Citigroup restated a "neutral" rating and set a $9.00 price objective (down from $19.00) on shares of StoneCo in a research note on Thursday, January 16th. Morgan Stanley raised their target price on StoneCo from $5.70 to $6.00 and gave the company an "underweight" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of StoneCo from $21.00 to $15.00 and set an "overweight" rating for the company in a research report on Monday, December 16th. One equities 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 company. Based on data from MarketBeat, StoneCo presently has an average rating of "Moderate Buy" and an average target price of $14.50.
Read Our Latest Analysis on StoneCo
StoneCo Price Performance
NASDAQ:STNE traded down $0.46 during trading hours on Friday, reaching $10.99. 5,650,882 shares of the company's stock were exchanged, compared to its average volume of 5,570,290. The business's 50-day simple moving average is $9.60 and its two-hundred day simple moving average is $9.94. The company has a market capitalization of $3.40 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 0.41 and a beta of 2.33. StoneCo Ltd. has a 12 month low of $7.72 and a 12 month high of $17.93. 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 (NASDAQ:STNE - Get Free Report) last released 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. The company had revenue of $582.20 million for the quarter, compared to analysts' expectations of $3.59 billion. StoneCo had a return on equity of 13.92% and a net margin of 16.02%. Sell-side analysts expect that StoneCo Ltd. will post 1.16 EPS for the current fiscal year.
StoneCo Profile
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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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