Y Intercept Hong Kong Ltd acquired a new stake in shares of StoneCo Ltd. (NASDAQ:STNE – Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 34,243 shares of the company’s stock, valued at approximately $327,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of STNE. Point72 Asset Management L.P. grew its holdings in shares of StoneCo by 191.7% in the fourth quarter. Point72 Asset Management L.P. now owns 12,021,200 shares of the company’s stock valued at $113,480,000 after purchasing an additional 7,899,800 shares in the last quarter. BlackRock Inc. grew its holdings in shares of StoneCo by 27.8% in the third quarter. BlackRock Inc. now owns 21,451,911 shares of the company’s stock valued at $204,437,000 after purchasing an additional 4,666,575 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new position in shares of StoneCo in the first quarter valued at $41,101,000. Renaissance Technologies LLC purchased a new position in shares of StoneCo in the first quarter valued at $35,504,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of StoneCo in the fourth quarter valued at $20,579,000. 75.52% of the stock is owned by hedge funds and other institutional investors.
StoneCo Stock Performance
Shares of StoneCo stock opened at $12.33 on Friday. The firm has a market cap of $3.85 billion, a P/E ratio of 25.16, a P/E/G ratio of 0.34 and a beta of 2.22. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. StoneCo Ltd. has a 12 month low of $8.07 and a 12 month high of $14.83. The stock’s fifty day moving average price is $13.06 and its 200-day moving average price is $11.62.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on STNE. Susquehanna raised their price target on StoneCo from $17.00 to $20.00 in a research report on Thursday, May 18th. HSBC upgraded StoneCo from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.00 to $15.00 in a research report on Monday, June 12th. Evercore ISI raised their price target on StoneCo from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup raised their price target on StoneCo from $13.00 to $17.00 in a research report on Sunday, May 21st. Finally, UBS Group upgraded StoneCo from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $18.00 in a research report on Thursday, August 3rd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.20.
Check Out Our Latest Stock Report on STNE
StoneCo 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.
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