Swiss National Bank Takes Position in StoneCo Ltd. (NASDAQ:STNE)

Swiss National Bank purchased a new stake in StoneCo Ltd. (NASDAQ:STNE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 570,057 shares of the company's stock, valued at approximately $6,419,000. Swiss National Bank owned approximately 0.18% of StoneCo as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Central Bank & Trust Co. acquired a new stake in shares of StoneCo during the second quarter valued at approximately $40,000. Lazard Asset Management LLC acquired a new stake in StoneCo during the 1st quarter valued at $41,000. Y.D. More Investments Ltd lifted its holdings in shares of StoneCo by 90.2% in the second 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 in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of StoneCo in the third quarter worth $125,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of StoneCo during the second quarter valued at $135,000. Institutional investors and hedge funds own 73.19% of the company's stock.

StoneCo Stock Performance

StoneCo stock traded down $0.29 during midday trading on Wednesday, reaching $10.41. The stock had a trading volume of 7,530,711 shares, compared to its average volume of 5,215,412. The firm has a market capitalization of $3.22 billion, a PE ratio of 8.29, a P/E/G ratio of 0.38 and a beta of 2.29. StoneCo Ltd. has a 12 month low of $9.06 and a 12 month high of $19.46. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. The firm's 50-day moving average price is $10.99 and its 200 day moving average price is $12.37.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays lowered their price objective on shares of StoneCo from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Monday, November 18th. UBS Group upped their price target on shares of StoneCo from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Susquehanna reduced their price objective 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 from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Finally, Cantor Fitzgerald upgraded StoneCo to a "strong-buy" rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.