Sumitomo Mitsui Trust Group Inc. Has $19.03 Million Holdings in StoneCo Ltd. (NASDAQ:STNE)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 37.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,689,839 shares of the company's stock after acquiring an additional 457,856 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.55% of StoneCo worth $19,028,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of StoneCo during the 3rd quarter valued at $716,000. Truxt Investmentos Ltda. bought a new stake in shares of StoneCo during the 3rd quarter worth $31,695,000. Covestor Ltd boosted its stake in shares of StoneCo by 40.9% during the 3rd quarter. Covestor Ltd now owns 13,350 shares of the company's stock worth $150,000 after acquiring an additional 3,878 shares in the last quarter. Atria Investments Inc boosted its stake in shares of StoneCo by 19.0% during the 3rd quarter. Atria Investments Inc now owns 20,258 shares of the company's stock worth $228,000 after acquiring an additional 3,241 shares in the last quarter. Finally, Gulf International Bank UK Ltd bought a new stake in shares of StoneCo during the 3rd quarter worth $210,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.

StoneCo Stock Down 0.9 %

NASDAQ STNE traded down $0.09 during trading on Monday, reaching $9.67. The company's stock had a trading volume of 4,124,018 shares, compared to its average volume of 5,133,637. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.99 billion, a PE ratio of 7.55, a PEG ratio of 0.34 and a beta of 2.29. StoneCo Ltd. has a 1-year low of $9.61 and a 1-year high of $19.46. The business has a 50-day moving average price of $11.24 and a 200-day moving average price of $12.66.

Wall Street Analyst Weigh In

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

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.