Truist Financial Corp Decreases Position in StoneCo Ltd. (NASDAQ:STNE)

Truist Financial Corp cut its stake in StoneCo Ltd. (NASDAQ:STNE) by 4.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 52,772 shares of the company’s stock after selling 2,500 shares during the quarter. Truist Financial Corp’s holdings in StoneCo were worth $633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Marshall Wace LLP lifted its stake in StoneCo by 204.1% in the 2nd quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock worth $92,823,000 after purchasing an additional 5,195,787 shares in the last quarter. Hsbc Holdings PLC lifted its stake in StoneCo by 2,445.5% in the 2nd quarter. Hsbc Holdings PLC now owns 2,287,353 shares of the company’s stock worth $27,151,000 after purchasing an additional 2,197,495 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in StoneCo in the 1st quarter worth approximately $33,139,000. American Century Companies Inc. purchased a new position in StoneCo in the 2nd quarter worth approximately $23,483,000. Finally, Fourth Sail Capital LP purchased a new position in StoneCo in the 2nd quarter worth approximately $21,323,000. 73.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STNE has been the topic of a number of research reports. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays cut their price target on shares of StoneCo from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday. UBS Group raised their price target on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Evercore ISI cut their price target on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, Morgan Stanley restated 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, StoneCo has an average rating of “Moderate Buy” and an average target price of $17.70.

StoneCo Stock Down 2.4 %

StoneCo stock opened at $10.96 on Wednesday. StoneCo Ltd. has a fifty-two week low of $9.34 and a fifty-two week high of $19.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a 50 day moving average price of $12.29 and a 200 day moving average price of $13.51. The company has a market capitalization of $3.44 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.39 and a beta of 2.30.

StoneCo (NASDAQ:STNE) last posted 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). The business had revenue of $615.13 million during the quarter, compared to analyst estimates of $590.74 million. StoneCo had a return on equity of 13.21% and a net margin of 15.27%. Research analysts expect that StoneCo Ltd. will post 1.21 earnings per share for the current year.

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.