SPX Gestao de Recursos Ltda Has $610,000 Stock Holdings in StoneCo Ltd. (NASDAQ:STNE)

SPX Gestao de Recursos Ltda cut its holdings in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 96.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,159 shares of the company's stock after selling 1,628,091 shares during the period. SPX Gestao de Recursos Ltda's holdings in StoneCo were worth $610,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in STNE. Central Bank & Trust Co. bought a new position in shares of StoneCo during the 2nd quarter worth about $40,000. Y.D. More Investments Ltd lifted its position in shares of StoneCo by 90.2% in the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company's stock worth $58,000 after acquiring an additional 2,275 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of StoneCo during the 3rd quarter worth approximately $125,000. Point72 Hong Kong Ltd bought a new stake in shares of StoneCo during the second quarter valued at approximately $135,000. Finally, nVerses Capital LLC acquired a new position in shares of StoneCo in the second quarter valued at $137,000. Institutional investors own 73.19% of the company's stock.

StoneCo Price Performance

Shares of STNE traded up $0.05 on Friday, hitting $9.02. The company's stock had a trading volume of 3,699,136 shares, compared to its average volume of 5,273,601. The company has a 50 day moving average price of $10.50 and a 200 day moving average price of $11.91. StoneCo Ltd. has a fifty-two week low of $8.87 and a fifty-two week high of $19.46. The company has a market capitalization of $2.79 billion, a PE ratio of 7.05, a PEG ratio of 0.35 and a beta of 2.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42.

Wall Street Analyst Weigh In

A number of research firms have weighed in on STNE. Barclays decreased their price target on shares of StoneCo from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. Susquehanna dropped their price target on shares of StoneCo from $22.00 to $19.00 and set a "positive" rating for the company in a research report on Wednesday, November 13th. Cantor Fitzgerald raised StoneCo to a "strong-buy" rating in a report on Thursday, October 3rd. UBS Group upped their price objective on StoneCo from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Finally, Morgan Stanley restated an "underweight" rating and set a $7.00 target price (down previously from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.75.

StoneCo 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.