Renaissance Technologies LLC Sells 953,434 Shares of StoneCo Ltd. (NASDAQ:STNE)

Renaissance Technologies LLC cut its stake in StoneCo Ltd. (NASDAQ:STNE) by 66.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 480,567 shares of the company’s stock after selling 953,434 shares during the period. Renaissance Technologies LLC owned approximately 0.15% of StoneCo worth $5,762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its position in shares of StoneCo by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 33,227 shares of the company’s stock worth $599,000 after buying an additional 692 shares during the period. Financial Perspectives Inc lifted its stake in StoneCo by 8.4% in 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 in the last quarter. Stokes Family Office LLC lifted its stake in StoneCo by 16.8% in the 1st quarter. Stokes Family Office LLC now owns 14,600 shares of the company’s stock valued at $243,000 after acquiring an additional 2,100 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in StoneCo by 152.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock worth $58,000 after acquiring an additional 2,110 shares during the last quarter. Finally, Y.D. More Investments Ltd grew its stake in shares of StoneCo by 90.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after acquiring an additional 2,275 shares in the last quarter. Institutional investors own 73.19% of the company’s stock.

Analysts Set New Price Targets

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

StoneCo Price Performance

NASDAQ:STNE opened at $11.11 on Friday. StoneCo Ltd. has a 12-month low of $9.34 and a 12-month high of $19.46. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 0.40 and a beta of 2.31. The stock’s 50 day moving average price is $12.78 and its two-hundred day moving average price is $14.07. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.41.

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

About StoneCo

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.