StoneCo Ltd. (NASDAQ:STNE) Stock Holdings Decreased by Bank of Montreal Can

Bank of Montreal Can reduced its position in StoneCo Ltd. (NASDAQ:STNE) by 5.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 411,691 shares of the company’s stock after selling 24,787 shares during the quarter. Bank of Montreal Can’s holdings in StoneCo were worth $4,940,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in STNE. Corient Private Wealth LLC increased its position in shares of StoneCo by 2.1% in the fourth quarter. Corient Private Wealth LLC now owns 33,227 shares of the company’s stock worth $599,000 after acquiring an additional 692 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of StoneCo by 63.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 88,182 shares of the company’s stock worth $1,590,000 after acquiring an additional 34,239 shares in the last quarter. Gabelli Funds LLC grew its position in StoneCo by 6.4% during the fourth quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock valued at $902,000 after purchasing an additional 3,000 shares in the last quarter. CenterBook Partners LP purchased a new position in StoneCo during the fourth quarter valued at approximately $368,000. Finally, Quadrature Capital Ltd purchased a new position in StoneCo during the fourth quarter valued at approximately $2,008,000. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Stock Performance

STNE stock opened at $11.10 on Wednesday. The firm has a 50 day moving average of $12.66 and a two-hundred day moving average of $13.90. 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 Ltd. has a 12 month low of $9.34 and a 12 month high of $19.46. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 0.41 and a beta of 2.31.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings data 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 return on equity of 13.21% and a net margin of 15.27%. The firm had revenue of $615.13 million during the quarter, compared to analyst estimates of $590.74 million. As a group, equities analysts anticipate that StoneCo Ltd. will post 1.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group boosted 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. Morgan Stanley reaffirmed an “underweight” rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Evercore ISI lowered their price objective on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Barclays lowered 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. Finally, The Goldman Sachs Group lowered their price objective on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, StoneCo has an average rating of “Moderate Buy” and a consensus target price of $17.80.

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.