Oppenheimer & Co. Inc. purchased a new stake in StoneCo Ltd (NASDAQ:STNE) in the first quarter, HoldingsChannel reports. The institutional investor purchased 6,330 shares of the company’s stock, valued at approximately $260,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Pelham Global Financials Ltd. bought a new position in StoneCo in the 4th quarter valued at about $12,154,000. Victory Capital Management Inc. bought a new position in shares of StoneCo during the 4th quarter valued at about $46,000. Loeb Partners Corp bought a new position in shares of StoneCo during the 4th quarter valued at about $480,000. Westpac Banking Corp bought a new position in shares of StoneCo during the 4th quarter valued at about $2,092,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of StoneCo during the 4th quarter valued at about $293,000. 35.02% of the stock is owned by institutional investors.
STNE stock opened at $27.91 on Friday. StoneCo Ltd has a one year low of $16.14 and a one year high of $45.62.
StoneCo (NASDAQ:STNE) last posted its quarterly earnings data on Monday, March 18th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $139.04 million for the quarter, compared to analysts’ expectations of $116.87 million. As a group, analysts forecast that StoneCo Ltd will post 0.83 earnings per share for the current fiscal year.
STNE has been the subject of several research reports. Bank of America initiated coverage on shares of StoneCo in a research report on Monday, January 14th. They set a “buy” rating and a $26.00 price objective for the company. Zacks Investment Research lowered shares of StoneCo from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Morgan Stanley restated an “overweight” rating and set a $47.00 price objective (up previously from $35.00) on shares of StoneCo in a research report on Thursday, March 21st. Citigroup lowered shares of StoneCo from a “buy” rating to a “neutral” rating in a research report on Friday, April 5th. Finally, HSBC initiated coverage on shares of StoneCo in a research report on Tuesday. They set a “reduce” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $33.09.
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StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.
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