Charles Schwab Investment Management Inc. Sells 278,839 Shares of StoneCo Ltd. (NASDAQ:STNE)

Charles Schwab Investment Management Inc. lessened its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 22.9% during the 4th quarter, Holdings Channel reports. The firm owned 939,522 shares of the company’s stock after selling 278,839 shares during the period. Charles Schwab Investment Management Inc.’s holdings in StoneCo were worth $7,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in StoneCo during the 4th quarter valued at approximately $56,000. Jones Financial Companies Lllp raised its stake in StoneCo by 254.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company’s stock valued at $34,000 after purchasing an additional 3,056 shares during the period. Metis Global Partners LLC bought a new stake in StoneCo in the 4th quarter worth approximately $115,000. Proficio Capital Partners LLC bought a new stake in StoneCo in the 4th quarter worth approximately $101,000. Finally, Bank of New York Mellon Corp increased its stake in StoneCo by 1.6% in the 4th quarter. Bank of New York Mellon Corp now owns 987,125 shares of the company’s stock worth $7,867,000 after acquiring an additional 15,200 shares during the last quarter. Institutional investors own 73.19% of the company’s stock.

StoneCo Price Performance

STNE opened at $11.10 on Monday. StoneCo Ltd. has a 12-month low of $7.72 and a 12-month high of $17.93. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $9.36 and its 200-day simple moving average is $9.92. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 0.41 and a beta of 2.33.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings data on Tuesday, March 18th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The firm had revenue of $582.20 million during the quarter, compared to analysts’ expectations of $3.59 billion. StoneCo had a return on equity of 13.92% and a net margin of 16.02%. On average, equities research analysts anticipate that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

STNE has been the topic of several analyst reports. Wells Fargo & Company raised StoneCo from an “equal weight” rating to an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group cut their price objective on StoneCo from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley upped their price objective on StoneCo from $5.70 to $6.00 and gave the company an “underweight” rating in a research report on Friday. Citigroup reaffirmed a “neutral” rating and issued a $9.00 price objective (down previously from $19.00) on shares of StoneCo in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their price objective on StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

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.