Bank of Montreal Can Sells 150,630 Shares of StoneCo Ltd. (NASDAQ:STNE)

Bank of Montreal Can lowered its stake in shares of StoneCo Ltd. (NASDAQ:STNE) by 36.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 261,061 shares of the company’s stock after selling 150,630 shares during the quarter. Bank of Montreal Can owned about 0.08% of StoneCo worth $2,994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Financial Perspectives Inc boosted its stake in StoneCo by 8.4% during the second quarter. Financial Perspectives Inc now owns 14,019 shares of the company’s stock worth $168,000 after buying an additional 1,083 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of StoneCo by 9.8% in the third quarter. Thrivent Financial for Lutherans now owns 19,877 shares of the company’s stock valued at $224,000 after acquiring an additional 1,773 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of StoneCo by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 123,275 shares of the company’s stock worth $1,478,000 after acquiring an additional 1,848 shares in the last quarter. Y.D. More Investments Ltd increased its holdings in StoneCo by 90.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after purchasing an additional 2,275 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in StoneCo by 15.4% during the 2nd quarter. AlphaMark Advisors LLC now owns 19,496 shares of the company’s stock worth $234,000 after acquiring an additional 2,608 shares during the last quarter. Institutional investors own 73.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. Barclays lowered their price target on StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Finally, Susquehanna decreased their price objective 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. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.89.

StoneCo Trading Up 0.7 %

NASDAQ STNE opened at $9.53 on Thursday. StoneCo Ltd. has a 52 week low of $9.06 and a 52 week high of $19.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42. The stock’s 50 day moving average price is $10.81 and its two-hundred day moving average price is $12.18. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.34 and a beta of 2.21.

StoneCo Company 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.