Sumitomo Mitsui Trust Holdings Inc. Sells 3,431,697 Shares of StoneCo Ltd. (NASDAQ:STNE)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 44.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,350,037 shares of the company’s stock after selling 3,431,697 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 1.38% of StoneCo worth $72,254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of STNE. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of StoneCo in the 4th quarter worth approximately $26,000. USA Financial Formulas purchased a new stake in shares of StoneCo in the fourth quarter worth $26,000. Headlands Technologies LLC bought a new position in shares of StoneCo during the fourth quarter valued at $56,000. Tucker Asset Management LLC purchased a new position in shares of StoneCo in the 3rd quarter worth about $60,000. Finally, PNC Financial Services Group Inc. boosted its stake in StoneCo by 42.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,869 shares of the company’s stock worth $105,000 after purchasing an additional 2,940 shares in the last quarter. Hedge funds and other institutional investors own 73.19% of the company’s stock.

Analysts Set New Price Targets

STNE has been the subject of several analyst reports. Citigroup raised their price target on shares of StoneCo from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Susquehanna decreased their price target on StoneCo from $23.00 to $22.00 and set a “positive” rating for the company in a research note on Friday, April 19th. Evercore ISI lowered their price target on StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. upgraded 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. Finally, Barclays lowered their target price on shares of StoneCo from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, May 20th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.56.

StoneCo Trading Up 2.7 %

Shares of StoneCo stock opened at $12.11 on Friday. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.31 and a beta of 2.33. StoneCo Ltd. has a twelve month low of $9.34 and a twelve month high of $19.46. The business has a 50-day moving average price of $13.94 and a 200-day moving average price of $15.95. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.25.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings results on Monday, May 13th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. StoneCo had a net margin of 14.08% and a return on equity of 12.35%. The company had revenue of $623.12 million for the quarter, compared to analysts’ expectations of $633.35 million. Equities research analysts anticipate that StoneCo Ltd. will post 1.49 EPS for the current fiscal year.

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.