Varma Mutual Pension Insurance Co Acquires Shares of 120,000 StoneCo Ltd. $STNE

Varma Mutual Pension Insurance Co bought a new position in StoneCo Ltd. (NASDAQ:STNE) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 120,000 shares of the company’s stock, valued at approximately $2,269,000.

A number of other large investors have also recently modified their holdings of STNE. USA Financial Formulas bought a new position in StoneCo in the third quarter worth about $55,000. Richardson Financial Services Inc. raised its position in shares of StoneCo by 64.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,943 shares of the company’s stock worth $56,000 after acquiring an additional 1,151 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new position in shares of StoneCo in the 3rd quarter valued at approximately $55,000. Concord Wealth Partners bought a new stake in shares of StoneCo during the third quarter valued at approximately $60,000. Finally, Farther Finance Advisors LLC boosted its position in shares of StoneCo by 47.8% during the third quarter. Farther Finance Advisors LLC now owns 3,839 shares of the company’s stock valued at $73,000 after purchasing an additional 1,241 shares in the last quarter. Institutional investors own 73.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on STNE shares. UBS Group decreased their price objective on StoneCo from $20.00 to $19.50 and set a “buy” rating for the company in a report on Wednesday, January 28th. Santander lowered shares of StoneCo from an “outperform” rating to a “neutral” rating in a research note on Thursday, January 29th. The Goldman Sachs Group lowered their price target on shares of StoneCo from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. BTIG Research initiated coverage on shares of StoneCo in a report on Monday. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StoneCo in a research note on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, StoneCo presently has an average rating of “Hold” and an average price target of $17.50.

StoneCo Stock Performance

Shares of StoneCo stock opened at $16.86 on Friday. StoneCo Ltd. has a 1 year low of $8.64 and a 1 year high of $19.95. The firm’s 50-day moving average is $15.43 and its 200 day moving average is $16.36. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of -31.22, a PEG ratio of 0.30 and a beta of 1.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.43 and a quick ratio of 1.43.

StoneCo Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.