Verition Fund Management LLC Trims Stake in StoneCo Ltd. (NASDAQ:STNE)

Verition Fund Management LLC lessened its holdings in StoneCo Ltd. (NASDAQ:STNE) by 96.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,399 shares of the company’s stock after selling 639,085 shares during the period. Verition Fund Management LLC’s holdings in StoneCo were worth $241,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd increased its stake in StoneCo by 90.2% in 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 during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of StoneCo in the third quarter worth approximately $125,000. Point72 Hong Kong Ltd purchased a new stake in StoneCo in the second quarter valued at approximately $135,000. nVerses Capital LLC purchased a new stake in StoneCo in the second quarter valued at approximately $137,000. Finally, HB Wealth Management LLC bought a new stake in StoneCo during the second quarter valued at approximately $153,000. Institutional investors own 73.19% of the company’s stock.

StoneCo Trading Up 0.6 %

NASDAQ STNE opened at $9.02 on Monday. The stock’s 50 day moving average is $10.50 and its 200 day moving average is $11.88. The firm has a market capitalization of $2.79 billion, a PE ratio of 7.05, a P/E/G ratio of 0.35 and a beta of 2.21. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo Ltd. has a twelve month low of $8.87 and a twelve month high of $19.46.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on STNE shares. Susquehanna decreased their price target on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a report on Wednesday, November 13th. Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. UBS Group upped their price objective on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Morgan Stanley reissued an “underweight” rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Finally, Barclays cut their target price 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, StoneCo currently has a consensus rating of “Moderate Buy” and an average target price of $16.75.

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.