Phoenix Holdings Ltd. purchased a new position in shares of StoneCo Ltd. (NASDAQ:STNE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,125 shares of the company’s stock, valued at approximately $208,000.
Several other hedge funds have also recently bought and sold shares of the company. Westpac Banking Corp bought a new position in shares of StoneCo during the 3rd quarter worth $4,759,000. Jupiter Asset Management Ltd. grew its stake in shares of StoneCo by 139.2% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 585,474 shares of the company’s stock worth $30,936,000 after acquiring an additional 340,710 shares during the period. Canton Hathaway LLC grew its stake in shares of StoneCo by 3.2% during the 3rd quarter. Canton Hathaway LLC now owns 19,194 shares of the company’s stock worth $1,015,000 after acquiring an additional 600 shares during the period. SG Americas Securities LLC grew its stake in shares of StoneCo by 38.8% during the 3rd quarter. SG Americas Securities LLC now owns 31,846 shares of the company’s stock worth $1,684,000 after acquiring an additional 8,906 shares during the period. Finally, National Asset Management Inc. bought a new position in shares of StoneCo during the 3rd quarter worth $1,089,000. Institutional investors own 49.56% of the company’s stock.
Several research analysts have recently weighed in on STNE shares. Evercore ISI upgraded StoneCo from an “in-line” rating to an “outperform” rating in a research note on Thursday, August 13th. Bank of America raised their target price on StoneCo from $61.00 to $68.00 and gave the stock a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group raised their target price on StoneCo from $32.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. They noted that the move was a valuation call. Bradesco Corretora upgraded StoneCo from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $42.00 to $53.00 in a research note on Friday, October 30th. Finally, Citigroup initiated coverage on StoneCo in a research note on Friday, August 14th. They issued a “buy” rating and a $58.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. StoneCo has an average rating of “Buy” and an average price target of $51.45.
Shares of STNE opened at $69.75 on Friday. The company has a market cap of $19.35 billion, a PE ratio of 112.50 and a beta of 2.28. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $58.80 and a 200-day moving average price of $45.92. StoneCo Ltd. has a 12-month low of $17.72 and a 12-month high of $70.17.
StoneCo (NASDAQ:STNE) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.86. The firm had revenue of $173.85 million during the quarter, compared to the consensus estimate of $113.92 million. StoneCo had a return on equity of 12.30% and a net margin of 26.52%. As a group, analysts predict that StoneCo Ltd. will post 0.53 earnings per share for the current year.
StoneCo Ltd. provides financial technology solutions to clients 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 technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.
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