StoneCo (NASDAQ:STNE) Price Target Lowered to $12.00 at Barclays

StoneCo (NASDAQ:STNE) had its price target trimmed by Barclays from $13.00 to $12.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Susquehanna dropped their target price on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research report on Wednesday, November 13th. UBS Group raised their price objective on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $7.00 price target (down previously from $16.50) on shares of StoneCo in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.89.

StoneCo Stock Performance

Shares of NASDAQ STNE opened at $9.35 on Monday. The stock’s fifty day simple moving average is $11.09 and its 200 day simple moving average is $12.56. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 0.33 and a beta of 2.29. 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 has a 52-week low of $9.06 and a 52-week high of $19.46.

Hedge Funds Weigh In On StoneCo

Several institutional investors have recently modified their holdings of the stock. Marshall Wace LLP grew its holdings in shares of StoneCo by 204.1% during the second quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock worth $92,823,000 after buying an additional 5,195,787 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of StoneCo by 36.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock worth $128,617,000 after acquiring an additional 3,035,530 shares in the last quarter. Truxt Investmentos Ltda. acquired a new stake in shares of StoneCo in the third quarter valued at approximately $31,695,000. State Street Corp lifted its position in shares of StoneCo by 51.0% in the third quarter. State Street Corp now owns 7,972,037 shares of the company’s stock worth $89,765,000 after purchasing an additional 2,692,558 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in StoneCo by 2,445.5% during the second 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 during the last quarter. 73.19% of the stock is currently owned by institutional investors and hedge funds.

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.