Prospera Financial Services Inc Sells 28,966 Shares of StoneCo Ltd. (NASDAQ:STNE)

Prospera Financial Services Inc lowered its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 73.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,702 shares of the company’s stock after selling 28,966 shares during the quarter. Prospera Financial Services Inc’s holdings in StoneCo were worth $121,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Marshall Wace LLP raised its position 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 valued at $92,823,000 after buying an additional 5,195,787 shares during the last quarter. Truxt Investmentos Ltda. purchased a new position in StoneCo during the third quarter valued at $31,695,000. Hsbc Holdings PLC increased its holdings in StoneCo by 2,445.5% in the 2nd quarter. Hsbc Holdings PLC now owns 2,287,353 shares of the company’s stock valued at $27,151,000 after acquiring an additional 2,197,495 shares during the last quarter. American Century Companies Inc. purchased a new stake in StoneCo in the 2nd quarter worth $23,483,000. Finally, Fourth Sail Capital LP bought a new position in shares of StoneCo during the 2nd quarter valued at about $21,323,000. Institutional investors own 73.19% of the company’s stock.

StoneCo Price Performance

StoneCo stock opened at $10.90 on Tuesday. The firm has a market capitalization of $3.37 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 0.36 and a beta of 2.29. StoneCo Ltd. has a 12-month low of $9.06 and a 12-month high of $19.46. The firm has a 50-day moving average price of $11.02 and a 200-day moving average price of $12.41. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47.

Analysts Set New Price Targets

STNE has been the subject of several research analyst reports. Susquehanna cut their price target on StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a report on Wednesday, November 13th. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a report on Thursday, October 3rd. Morgan Stanley restated an “underweight” rating and issued a $7.00 price target (down previously from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Barclays lowered their price objective on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Finally, UBS Group upped their target price on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, StoneCo presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.89.

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.