Robeco Institutional Asset Management B.V. Cuts Stake in StoneCo Ltd. (NASDAQ:STNE)

Robeco Institutional Asset Management B.V. cut its holdings in StoneCo Ltd. (NASDAQ:STNE) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 939,457 shares of the company’s stock after selling 14,366 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in StoneCo were worth $10,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC purchased a new stake in shares of StoneCo in the 1st quarter worth approximately $33,139,000. Point72 Asset Management L.P. lifted its holdings in StoneCo by 10.2% during the second quarter. Point72 Asset Management L.P. now owns 8,386,945 shares of the company’s stock worth $100,559,000 after buying an additional 779,445 shares during the period. Vanguard Group Inc. boosted its position in StoneCo by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 2,636,619 shares of the company’s stock valued at $43,794,000 after acquiring an additional 88,256 shares in the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of StoneCo by 4.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 2,562,394 shares of the company’s stock valued at $30,723,000 after acquiring an additional 113,656 shares during the period. Finally, Point72 DIFC Ltd raised its position in shares of StoneCo by 123.4% in the 2nd quarter. Point72 DIFC Ltd now owns 251,993 shares of the company’s stock worth $3,021,000 after acquiring an additional 139,182 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on STNE shares. UBS Group raised their price objective on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley restated an “underweight” rating and issued a $7.00 price target (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Barclays lowered their target price on shares of StoneCo from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.70.

StoneCo Stock Performance

Shares of STNE stock opened at $11.35 on Friday. The business has a fifty day moving average of $11.48 and a 200 day moving average of $12.96. StoneCo Ltd. has a 1 year low of $10.20 and a 1 year high of $19.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 0.40 and a beta of 2.29.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.04). StoneCo had a return on equity of 13.21% and a net margin of 15.27%. The firm had revenue of $615.13 million during the quarter, compared to analysts’ expectations of $590.74 million. As a group, research analysts expect that StoneCo Ltd. will post 1.21 earnings per share for the current year.

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.