Zurcher Kantonalbank Zurich Cantonalbank Has $698,000 Stock Position in StoneCo Ltd. (NASDAQ:STNE)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 1,985.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,978 shares of the company's stock after acquiring an additional 59,006 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in StoneCo were worth $698,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Freedom Investment Management Inc. lifted its position in shares of StoneCo by 22.9% in the 3rd quarter. Freedom Investment Management Inc. now owns 31,510 shares of the company's stock worth $355,000 after acquiring an additional 5,877 shares during the period. BNP Paribas Financial Markets raised its stake in shares of StoneCo by 313.4% in the third quarter. BNP Paribas Financial Markets now owns 472,758 shares of the company's stock valued at $5,323,000 after purchasing an additional 358,398 shares in the last quarter. FMR LLC lifted its position in StoneCo by 466.4% in the third quarter. FMR LLC now owns 64,492 shares of the company's stock worth $726,000 after purchasing an additional 53,106 shares during the period. The Manufacturers Life Insurance Company boosted its stake in StoneCo by 18.8% during the third quarter. The Manufacturers Life Insurance Company now owns 146,442 shares of the company's stock worth $1,649,000 after buying an additional 23,167 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in shares of StoneCo by 23.7% in the 3rd quarter. Independent Advisor Alliance now owns 36,295 shares of the company's stock valued at $409,000 after buying an additional 6,947 shares in the last quarter. Institutional investors own 73.19% of the company's stock.

StoneCo Price Performance

Shares of STNE stock traded down $0.23 during trading hours on Friday, hitting $9.16. 7,019,767 shares of the company's stock were exchanged, compared to its average volume of 6,712,203. The stock's 50-day moving average is $10.70 and its 200-day moving average is $12.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. StoneCo Ltd. has a 52 week low of $9.06 and a 52 week high of $19.46. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 7.16, a price-to-earnings-growth ratio of 0.33 and a beta of 2.21.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Susquehanna decreased their target price on shares of StoneCo from $22.00 to $19.00 and set a "positive" rating on the stock in a research report on Wednesday, November 13th. Barclays lowered their price objective on StoneCo from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. Cantor Fitzgerald upgraded StoneCo to a "strong-buy" rating in a research report on Thursday, October 3rd. UBS Group boosted their price target on StoneCo from $17.00 to $18.00 and gave the company a "buy" rating in a research note 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 analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, StoneCo presently has a consensus rating of "Moderate Buy" and an average target price of $16.89.

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.