Axa S.A. reduced its stake in shares of StoneCo Ltd. (NASDAQ:STNE – Get Rating) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 440,467 shares of the company’s stock after selling 16,095 shares during the quarter. Axa S.A. owned approximately 0.14% of StoneCo worth $4,198,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in STNE. Truxt Investmentos Ltda. purchased a new stake in shares of StoneCo during the third quarter valued at $44,121,000. Polunin Capital Partners Ltd purchased a new stake in shares of StoneCo during the third quarter valued at $33,766,000. Renaissance Technologies LLC purchased a new stake in shares of StoneCo during the first quarter valued at $35,504,000. FMR LLC boosted its stake in shares of StoneCo by 75.9% during the second quarter. FMR LLC now owns 6,872,493 shares of the company’s stock valued at $52,918,000 after purchasing an additional 2,964,737 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of StoneCo by 601.0% during the second quarter. AQR Capital Management LLC now owns 2,958,958 shares of the company’s stock valued at $22,429,000 after purchasing an additional 2,536,873 shares during the period. 59.80% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of StoneCo from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, January 9th. Grupo Santander upgraded shares of StoneCo from an “underperform” rating to a “neutral” rating in a report on Wednesday, December 14th. Evercore ISI upgraded StoneCo from an “in-line” rating to an “outperform” rating and upped their target price for the company from $10.00 to $16.00 in a research report on Monday, November 28th. The Goldman Sachs Group upgraded StoneCo from a “sell” rating to a “neutral” rating and upped their target price for the company from $7.50 to $11.00 in a research report on Thursday, December 1st. Finally, Morgan Stanley lowered StoneCo from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $17.00 to $15.00 in a research report on Tuesday, December 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, StoneCo currently has an average rating of “Moderate Buy” and an average target price of $15.25.
StoneCo Stock Performance
About StoneCo
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. The firm offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.
Further Reading
- Get a free copy of the StockNews.com research report on StoneCo (STNE)
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