StoneCo Ltd. (NASDAQ:STNE) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of StoneCo Ltd. (NASDAQ:STNE) by 327.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,580,679 shares of the company’s stock after purchasing an additional 1,210,817 shares during the quarter. JPMorgan Chase & Co.’s holdings in StoneCo were worth $17,798,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in STNE. Point72 Asset Management L.P. grew its position in StoneCo by 36.2% during the third quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock valued at $128,617,000 after buying an additional 3,035,530 shares during the period. State Street Corp boosted its stake in shares of StoneCo by 51.0% during the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company’s stock worth $89,765,000 after acquiring an additional 2,692,558 shares in the last quarter. Marshall Wace LLP grew its position in shares of StoneCo by 204.1% during the 2nd quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock valued at $92,823,000 after acquiring an additional 5,195,787 shares during the period. Geode Capital Management LLC increased its stake in shares of StoneCo by 36.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company’s stock valued at $58,302,000 after purchasing an additional 1,374,788 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its holdings in StoneCo by 43.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company’s stock worth $41,363,000 after purchasing an additional 1,111,065 shares during the period. 73.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Barclays dropped their price objective on StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. JPMorgan Chase & Co. dropped their price target on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Susquehanna reduced their price objective on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. One 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.13.

StoneCo Trading Down 4.0 %

Shares of STNE opened at $7.97 on Friday. StoneCo Ltd. has a 52-week low of $7.83 and a 52-week high of $19.46. The stock has a market cap of $2.46 billion, a PE ratio of 6.23, a price-to-earnings-growth ratio of 0.35 and a beta of 2.23. The firm’s fifty day moving average is $9.36 and its two-hundred day moving average is $11.29. 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 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.