Bank of New York Mellon Corp Raises Position in StoneCo Ltd. (NASDAQ:STNE)

Bank of New York Mellon Corp raised its holdings in StoneCo Ltd. (NASDAQ:STNE) by 10.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 970,355 shares of the company’s stock after acquiring an additional 92,122 shares during the period. Bank of New York Mellon Corp owned approximately 0.31% of StoneCo worth $11,635,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Norges Bank purchased a new position in StoneCo in the fourth quarter worth $58,777,000. Lord Abbett & CO. LLC bought a new stake in StoneCo in the 1st quarter worth approximately $33,139,000. Constellation Investimentos e Participacoes Ltda purchased a new stake in StoneCo in the first quarter worth approximately $24,712,000. Azora Capital LP bought a new position in StoneCo during the fourth quarter valued at approximately $18,458,000. Finally, BW Gestao de Investimentos Ltda. boosted its stake in shares of StoneCo by 262.2% in the 1st quarter. BW Gestao de Investimentos Ltda. now owns 1,230,000 shares of the company’s stock valued at $20,430,000 after purchasing an additional 890,442 shares in the last quarter. Institutional investors own 73.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STNE has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Evercore ISI lowered their price target on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. JPMorgan Chase & Co. raised shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Thursday, June 6th. 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. Finally, Barclays dropped their price target on StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.80.

StoneCo Trading Down 4.0 %

Shares of NASDAQ:STNE opened at $11.33 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.36 and a quick ratio of 1.36. StoneCo Ltd. has a 1 year low of $9.34 and a 1 year high of $19.46. The company has a market cap of $3.50 billion, a P/E ratio of 10.21, a PEG ratio of 0.45 and a beta of 2.31. The stock’s fifty day moving average price is $13.11 and its 200-day moving average price is $14.54.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). StoneCo had a net margin of 15.27% and a return on equity of 13.21%. The company had revenue of $615.13 million for the quarter, compared to analysts’ expectations of $590.74 million. Sell-side analysts expect that StoneCo Ltd. will post 1.1 earnings per share for the current year.

About StoneCo

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.