Federated Hermes Inc. trimmed its holdings in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 12.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,552,636 shares of the company's stock after selling 223,756 shares during the period. Federated Hermes Inc. owned 0.50% of StoneCo worth $12,355,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of the business. State Street Corp raised its holdings in StoneCo by 51.0% in 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. Geode Capital Management LLC increased its holdings in shares of StoneCo by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 5,419,797 shares of the company's stock valued at $43,120,000 after purchasing an additional 229,453 shares during the last quarter. Norges Bank acquired a new position in StoneCo during the fourth quarter worth $22,642,000. SPX Gestao de Recursos Ltda boosted its stake in StoneCo by 3,248.6% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 1,813,588 shares of the company's stock worth $14,454,000 after buying an additional 1,759,429 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in StoneCo by 7.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,696,729 shares of the company's stock valued at $13,523,000 after buying an additional 116,050 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.
StoneCo Stock Up 1.5 %
Shares of NASDAQ STNE traded up $0.18 during mid-day trading on Tuesday, hitting $11.94. The company had a trading volume of 1,417,543 shares, compared to its average volume of 5,654,679. StoneCo Ltd. has a 1-year low of $7.72 and a 1-year high of $17.09. The company has a market capitalization of $3.69 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.41 and a beta of 2.05. 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 business's 50-day simple moving average is $10.17 and its 200 day simple moving average is $9.86.
StoneCo (NASDAQ:STNE - Get Free Report) last announced its quarterly earnings data on Tuesday, March 18th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $582.20 million during 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%. On average, analysts predict that StoneCo Ltd. will post 1.16 earnings per share for the current year.
Wall Street Analyst Weigh In
STNE has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of StoneCo from $21.00 to $15.00 and set an "overweight" rating on the stock in a research report on Monday, December 16th. The Goldman Sachs Group lowered their price objective on StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company raised StoneCo from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, March 19th. Barclays raised their price objective on StoneCo from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. Finally, Morgan Stanley upped their target price on shares of StoneCo from $5.70 to $6.00 and gave the company an "underweight" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, StoneCo presently has a consensus rating of "Moderate Buy" and an average price target of $14.50.
Read Our Latest Stock Analysis on STNE
About StoneCo
(
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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