Allspring Global Investments Holdings LLC Sells 1,929,131 Shares of StoneCo Ltd. (NASDAQ:STNE)

Allspring Global Investments Holdings LLC decreased its holdings in StoneCo Ltd. (NASDAQ:STNE) by 91.3% during the 1st quarter, HoldingsChannel reports. The firm owned 184,300 shares of the company’s stock after selling 1,929,131 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in StoneCo were worth $3,061,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of StoneCo during the fourth quarter worth $58,777,000. Azora Capital LP bought a new stake in StoneCo during the 4th quarter worth $18,458,000. Sharp Capital Gestora de Recursos Ltda. acquired a new position in StoneCo in the 4th quarter worth about $12,187,000. Qube Research & Technologies Ltd raised its position in StoneCo by 103.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,234,520 shares of the company’s stock valued at $13,172,000 after purchasing an additional 628,698 shares during the last quarter. Finally, Squadra Investments Gestao DE Recursos LTDA. acquired a new stake in shares of StoneCo during the fourth quarter valued at about $11,232,000. Institutional investors and hedge funds own 73.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on STNE shares. JPMorgan Chase & Co. upgraded shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Thursday, June 6th. The Goldman Sachs Group reduced their price objective on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Barclays lowered their target price on StoneCo from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Monday, May 20th. Citigroup upped their price target on StoneCo from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Susquehanna lowered their price objective on StoneCo from $23.00 to $22.00 and set a “positive” rating for the company in a research report on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.56.

StoneCo Stock Up 0.5 %

Shares of NASDAQ:STNE opened at $11.79 on Wednesday. StoneCo Ltd. has a 1 year low of $9.34 and a 1 year high of $19.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.36 and a quick ratio of 1.36. The business’s 50-day moving average is $14.08 and its 200-day moving average is $16.00. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 0.32 and a beta of 2.33.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings results on Monday, May 13th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $623.12 million for the quarter, compared to analyst estimates of $633.35 million. StoneCo had a return on equity of 12.35% and a net margin of 14.08%. Equities research analysts predict that StoneCo Ltd. will post 1.43 earnings per share for the current year.

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.