Point72 Asset Management L.P. Increases Stock Holdings in StoneCo Ltd. (NASDAQ:STNE)

Point72 Asset Management L.P. raised its position in shares of StoneCo Ltd. (NASDAQ:STNE) by 10.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,386,945 shares of the company’s stock after purchasing an additional 779,445 shares during the quarter. Point72 Asset Management L.P. owned 2.71% of StoneCo worth $100,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in STNE. Corient Private Wealth LLC grew its position in StoneCo by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 33,227 shares of the company’s stock valued at $599,000 after buying an additional 692 shares during the period. Financial Perspectives Inc grew its position in shares of StoneCo by 8.4% during the 2nd quarter. Financial Perspectives Inc now owns 14,019 shares of the company’s stock valued at $168,000 after acquiring an additional 1,083 shares during the period. TrinityPoint Wealth LLC raised its holdings in StoneCo by 11.1% in the 4th quarter. TrinityPoint Wealth LLC now owns 11,696 shares of the company’s stock worth $211,000 after purchasing an additional 1,167 shares during the period. Stokes Family Office LLC raised its holdings in StoneCo by 16.8% in the 1st quarter. Stokes Family Office LLC now owns 14,600 shares of the company’s stock worth $243,000 after purchasing an additional 2,100 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in StoneCo by 152.1% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock valued at $58,000 after purchasing an additional 2,110 shares in the last quarter. Hedge funds and other institutional investors own 73.19% of the company’s stock.

Wall Street Analyst Weigh In

STNE has been the topic of several recent research reports. Evercore ISI decreased their price objective on StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Barclays decreased their target price on shares of StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. The Goldman Sachs Group dropped their price target on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. UBS Group raised their price objective on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.80.

StoneCo Price Performance

Shares of StoneCo stock opened at $11.21 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.41. StoneCo Ltd. has a 12 month low of $9.34 and a 12 month high of $19.46. The stock has a 50 day moving average of $12.87 and a 200 day moving average of $14.11. The firm has a market cap of $3.46 billion, a PE ratio of 10.10, a PEG ratio of 0.40 and a beta of 2.31.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). StoneCo had a return on equity of 13.21% and a net margin of 15.27%. The business had revenue of $615.13 million during the quarter, compared to analysts’ expectations of $590.74 million. On average, research analysts expect that StoneCo Ltd. will post 1.1 EPS for the current fiscal year.

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.