Swiss National Bank Invests $6.42 Million in StoneCo Ltd. (NASDAQ:STNE)

Swiss National Bank acquired a new stake in StoneCo Ltd. (NASDAQ:STNE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 570,057 shares of the company’s stock, valued at approximately $6,419,000. Swiss National Bank owned about 0.18% of StoneCo as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in StoneCo by 3.5% in the first quarter. Vanguard Group Inc. now owns 2,636,619 shares of the company’s stock valued at $43,794,000 after purchasing an additional 88,256 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of StoneCo in the 1st quarter valued at about $41,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of StoneCo by 15.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 83,619 shares of the company’s stock valued at $1,389,000 after purchasing an additional 11,154 shares during the last quarter. Beck Bode LLC boosted its position in shares of StoneCo by 42.7% in the 1st quarter. Beck Bode LLC now owns 347,024 shares of the company’s stock valued at $5,764,000 after purchasing an additional 103,819 shares during the period. Finally, Invst LLC purchased a new position in StoneCo during the 1st quarter worth approximately $172,000. Institutional investors and hedge funds own 73.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STNE has been the subject of several research analyst reports. Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a report on Thursday, October 3rd. Morgan Stanley reissued an “underweight” rating and set a $7.00 price target (down previously from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Susquehanna cut their price target on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a report on Wednesday, November 13th. Barclays decreased their price objective on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Finally, UBS Group increased their target price on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.89.

StoneCo Stock Down 1.8 %

STNE stock opened at $10.70 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. StoneCo Ltd. has a 12 month low of $9.06 and a 12 month high of $19.46. The firm has a market capitalization of $3.31 billion, a PE ratio of 8.38, a P/E/G ratio of 0.36 and a beta of 2.29. The company’s 50 day simple moving average is $11.02 and its 200-day simple moving average is $12.41.

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.