Azora Capital LP Sells 469,950 Shares of StoneCo Ltd. (NASDAQ:STNE)

Azora Capital LP lessened its holdings in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 46.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 550,187 shares of the company's stock after selling 469,950 shares during the quarter. Azora Capital LP owned approximately 0.18% of StoneCo worth $6,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of STNE. Central Bank & Trust Co. purchased a new position in shares of StoneCo during the 2nd quarter worth $40,000. Lazard Asset Management LLC bought a new stake in shares of StoneCo during the 1st quarter valued at $41,000. Y.D. More Investments Ltd raised its position in shares of StoneCo by 90.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company's stock valued at $58,000 after purchasing an additional 2,275 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of StoneCo during the 3rd quarter valued at $125,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of StoneCo during the 2nd quarter valued at $135,000. Hedge funds and other institutional investors own 73.19% of the company's stock.

StoneCo Price Performance

Shares of StoneCo stock traded up $0.25 during trading hours on Monday, reaching $9.73. The company's stock had a trading volume of 9,332,814 shares, compared to its average volume of 5,231,257. The firm has a 50 day moving average price of $10.87 and a 200-day moving average price of $12.25. StoneCo Ltd. has a one year low of $9.06 and a one year high of $19.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $3.01 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.33 and a beta of 2.29.

Analyst Upgrades and Downgrades

Several analysts have recently commented on STNE shares. Susquehanna decreased their price objective on shares of StoneCo from $22.00 to $19.00 and set a "positive" rating on the stock in a research report on Wednesday, November 13th. Cantor Fitzgerald upgraded shares of StoneCo to a "strong-buy" rating in a research report on Thursday, October 3rd. UBS Group lifted their price target on shares of StoneCo from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Morgan Stanley reiterated an "underweight" rating and issued a $7.00 price target (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Finally, Barclays reduced their price target on shares of StoneCo from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.89.

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.