ARK Investment Management LLC Sells 38,287 Shares of StoneCo Ltd. (NASDAQ:STNE)

ARK Investment Management LLC cut its stake in StoneCo Ltd. (NASDAQ:STNE) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,129,302 shares of the company’s stock after selling 38,287 shares during the quarter. ARK Investment Management LLC’s holdings in StoneCo were worth $38,391,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Commonwealth Equity Services LLC raised its holdings in StoneCo by 6.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 12,367 shares of the company’s stock worth $117,000 after purchasing an additional 800 shares in the last quarter. Raymond James & Associates raised its holdings in StoneCo by 9.9% in the 4th quarter. Raymond James & Associates now owns 11,383 shares of the company’s stock worth $107,000 after purchasing an additional 1,030 shares in the last quarter. Diversified Trust Co raised its holdings in StoneCo by 3.3% in the 4th quarter. Diversified Trust Co now owns 35,547 shares of the company’s stock worth $641,000 after purchasing an additional 1,151 shares in the last quarter. Credit Suisse AG raised its holdings in StoneCo by 1.9% in the 4th quarter. Credit Suisse AG now owns 65,627 shares of the company’s stock worth $620,000 after purchasing an additional 1,246 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in StoneCo by 2.7% in the 2nd quarter. LPL Financial LLC now owns 47,979 shares of the company’s stock worth $369,000 after purchasing an additional 1,262 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors.

StoneCo Stock Performance

Shares of NASDAQ STNE opened at $16.72 on Thursday. The firm’s 50-day moving average price is $17.14 and its 200-day moving average price is $14.72. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.25. The company has a market cap of $5.25 billion, a PE ratio of 16.55 and a beta of 2.37. StoneCo Ltd. has a 52-week low of $8.73 and a 52-week high of $19.46.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group downgraded shares of StoneCo from a “buy” rating to a “neutral” rating and upped their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Citigroup upped their target price on shares of StoneCo from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group raised shares of StoneCo from a “neutral” rating to a “buy” rating and upped their target price for the stock from $12.00 to $21.00 in a research report on Monday, January 22nd. Barclays upped their target price on shares of StoneCo from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Finally, Bank of America upped their target price on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.64.

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.