StoneCo Ltd. (NASDAQ:STNE) Shares Bought by Covestor Ltd

Covestor Ltd increased its stake in StoneCo Ltd. (NASDAQ:STNE) by 40.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,350 shares of the company’s stock after purchasing an additional 3,878 shares during the quarter. Covestor Ltd’s holdings in StoneCo were worth $150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Central Bank & Trust Co. purchased a new stake in shares of StoneCo during the 2nd quarter worth approximately $40,000. Lazard Asset Management LLC acquired a new position in shares of StoneCo during the 1st quarter worth $41,000. Y.D. More Investments Ltd raised 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 buying an additional 2,275 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of StoneCo in the 3rd quarter worth about $125,000. Finally, Point72 Hong Kong Ltd acquired a new stake in StoneCo in the 2nd quarter valued at about $135,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STNE has been the topic of several research reports. UBS Group increased their price target 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. Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Barclays reduced their target price on shares of StoneCo from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $7.00 price target (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.70.

StoneCo Price Performance

Shares of NASDAQ STNE opened at $11.56 on Tuesday. 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 fifty-two week low of $10.64 and a fifty-two week high of $19.46. The business has a 50 day moving average price of $11.41 and a two-hundred day moving average price of $12.86. The firm has a market cap of $3.57 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.40 and a beta of 2.29.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.04). StoneCo had a return on equity of 13.21% and a net margin of 15.27%. The company had revenue of $615.13 million for the quarter, compared to the consensus estimate of $590.74 million. Sell-side analysts expect that StoneCo Ltd. will post 1.21 earnings per share 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.