Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) by 65.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 575,571 shares of the company's stock after selling 1,114,268 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.19% of StoneCo worth $4,587,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. increased its holdings in shares of StoneCo by 36.2% during 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 in the last quarter. Truxt Investmentos Ltda. purchased a new position in shares of StoneCo during the 3rd quarter valued at approximately $31,695,000. State Street Corp increased its holdings in shares of StoneCo by 51.0% during the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company's stock valued at $89,765,000 after purchasing an additional 2,692,558 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of StoneCo by 36.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company's stock valued at $58,302,000 after purchasing an additional 1,374,788 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of StoneCo by 327.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,580,679 shares of the company's stock valued at $17,798,000 after purchasing an additional 1,210,817 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.
StoneCo Trading Up 4.4 %
Shares of STNE stock traded up $0.41 on Monday, hitting $9.78. 8,822,429 shares of the stock traded hands, compared to its average volume of 4,948,757. The firm's 50-day moving average price is $8.64 and its two-hundred day moving average price is $10.53. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market capitalization of $3.02 billion, a PE ratio of 7.64, a PEG ratio of 0.37 and a beta of 2.25. StoneCo Ltd. has a twelve month low of $7.72 and a twelve month high of $17.93.
Analysts Set New Price Targets
Several brokerages recently commented on STNE. Susquehanna cut their price target on shares of StoneCo from $22.00 to $19.00 and set a "positive" rating for the company in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price target on shares of StoneCo from $21.00 to $15.00 and set an "overweight" rating for the company in a report on Monday, December 16th. Barclays cut their price target on shares of StoneCo from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Citigroup reissued a "neutral" rating and issued a $9.00 price target (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. Finally, The Goldman Sachs Group dropped their target price on shares of StoneCo from $16.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.38.
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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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