StoneCo Ltd. (NASDAQ:STNE) Stake Lessened by Verition Fund Management LLC

Verition Fund Management LLC reduced its position in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 96.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 21,399 shares of the company's stock after selling 639,085 shares during the period. Verition Fund Management LLC's holdings in StoneCo were worth $241,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in shares of StoneCo by 0.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 610,938 shares of the company's stock worth $7,325,000 after acquiring an additional 3,821 shares during the period. Koa Wealth Management LLC raised its stake in StoneCo by 205.8% during the second quarter. Koa Wealth Management LLC now owns 157,420 shares of the company's stock worth $1,887,000 after purchasing an additional 105,943 shares during the period. Schwartz Investment Counsel Inc. boosted its holdings in shares of StoneCo by 3.2% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 276,200 shares of the company's stock valued at $3,312,000 after purchasing an additional 8,500 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of StoneCo by 10.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 970,355 shares of the company's stock valued at $11,635,000 after buying an additional 92,122 shares during the period. Finally, HB Wealth Management LLC acquired a new stake in shares of StoneCo during the 2nd quarter worth $153,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Susquehanna reduced their target price on StoneCo from $22.00 to $19.00 and set a "positive" rating on the stock in a report on Wednesday, November 13th. Cantor Fitzgerald raised StoneCo to a "strong-buy" rating in a research note on Thursday, October 3rd. Barclays decreased their target price on StoneCo from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. UBS Group raised 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. Finally, Morgan Stanley reiterated an "underweight" rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.13.

StoneCo Stock Down 3.4 %

Shares of STNE stock traded down $0.31 on Monday, hitting $8.71. The stock had a trading volume of 5,784,729 shares, compared to its average volume of 5,275,720. The stock's 50 day moving average is $10.50 and its 200-day moving average is $11.88. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 6.80, a P/E/G ratio of 0.35 and a beta of 2.21. StoneCo Ltd. has a 52-week low of $8.70 and a 52-week high of $19.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42.

StoneCo Company 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.