State Street Corp Grows Stock Position in StoneCo Ltd. (NASDAQ:STNE)

State Street Corp boosted its position in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 51.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,972,037 shares of the company's stock after buying an additional 2,692,558 shares during the period. State Street Corp owned approximately 2.58% of StoneCo worth $89,765,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in shares of StoneCo by 36.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company's stock valued at $128,617,000 after purchasing an additional 3,035,530 shares during the period. Marshall Wace LLP lifted its stake in StoneCo by 204.1% in the second quarter. Marshall Wace LLP now owns 7,741,662 shares of the company's stock valued at $92,823,000 after buying an additional 5,195,787 shares during the period. Coronation Fund Managers Ltd. boosted its holdings in shares of StoneCo by 43.4% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company's stock worth $41,363,000 after buying an additional 1,111,065 shares in the last quarter. Constellation Investimentos e Participacoes Ltda grew its position in shares of StoneCo by 30.0% during the 3rd quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company's stock worth $34,316,000 after buying an additional 703,249 shares during the period. Finally, Truxt Investmentos Ltda. bought a new stake in shares of StoneCo in the 3rd quarter valued at $31,695,000. Institutional investors own 73.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of StoneCo from $21.00 to $15.00 and set an "overweight" rating on the stock in a research note on Monday. Morgan Stanley restated an "underweight" rating and issued a $7.00 target price (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. UBS Group increased their price target on StoneCo from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Barclays lowered their target price on StoneCo from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Monday, November 18th. Finally, Susquehanna reduced 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, StoneCo presently has an average rating of "Moderate Buy" and a consensus target price of $16.13.

StoneCo Stock Performance

STNE remained flat at $8.71 during mid-day trading on Tuesday. 6,791,667 shares of the company's stock were exchanged, compared to its average volume of 5,281,953. The business has a 50-day moving average of $10.40 and a 200 day moving average of $11.81. The stock has a market capitalization of $2.69 billion, a PE ratio of 6.80, 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. StoneCo Ltd. has a 1 year low of $8.64 and a 1 year high of $19.46.

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.