StoneCo Ltd. (NASDAQ:STNE) Shares Bought by State Street Corp

State Street Corp grew its stake in shares of StoneCo Ltd. (NASDAQ:STNE) by 51.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,972,037 shares of the company’s stock after purchasing an additional 2,692,558 shares during the quarter. State Street Corp owned approximately 2.58% of StoneCo worth $89,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Perspectives Inc increased its holdings in shares of StoneCo by 8.4% in the 2nd quarter. Financial Perspectives Inc now owns 14,019 shares of the company’s stock valued at $168,000 after acquiring an additional 1,083 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of StoneCo by 9.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 19,877 shares of the company’s stock valued at $224,000 after acquiring an additional 1,773 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of StoneCo by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 123,275 shares of the company’s stock valued at $1,478,000 after acquiring an additional 1,848 shares during the period. Y.D. More Investments Ltd increased its holdings in shares of StoneCo by 90.2% in the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after acquiring an additional 2,275 shares during the period. Finally, Atria Investments Inc increased its holdings in shares of StoneCo by 19.0% in the 3rd quarter. Atria Investments Inc now owns 20,258 shares of the company’s stock valued at $228,000 after acquiring an additional 3,241 shares during the period. Institutional investors and hedge funds own 73.19% of the company’s stock.

StoneCo Price Performance

Shares of NASDAQ STNE opened at $8.71 on Tuesday. The firm has a market capitalization of $2.69 billion, a P/E ratio of 6.80, a PEG ratio of 0.35 and a beta of 2.21. StoneCo Ltd. has a one year low of $8.70 and a one year high of $19.46. The company’s fifty day moving average is $10.45 and its two-hundred day moving average is $11.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42.

Analyst Upgrades and Downgrades

STNE has been the topic of a number of recent research reports. UBS Group lifted their target price on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Morgan Stanley reaffirmed an “underweight” rating and issued a $7.00 target price (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Susquehanna dropped their price objective on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research note on Wednesday, November 13th. Barclays dropped their price objective on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, StoneCo currently has an average rating of “Moderate Buy” and a consensus price target of $16.13.

StoneCo 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.