Citigroup Inc. Has $15.09 Million Stake in StoneCo Ltd. (NASDAQ:STNE)

Citigroup Inc. boosted its position in shares of StoneCo Ltd. (NASDAQ:STNE) by 584.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,339,972 shares of the company’s stock after buying an additional 1,144,341 shares during the period. Citigroup Inc. owned approximately 0.43% of StoneCo worth $15,088,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its stake in shares of StoneCo by 10.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 8,386,945 shares of the company’s stock valued at $100,559,000 after purchasing an additional 779,445 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of StoneCo by 204.1% in the 2nd quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock valued at $92,823,000 after purchasing an additional 5,195,787 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in shares of StoneCo by 43.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company’s stock valued at $41,363,000 after purchasing an additional 1,111,065 shares in the last quarter. Constellation Investimentos e Participacoes Ltda boosted its stake in shares of StoneCo by 30.0% in the 3rd quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company’s stock valued at $34,316,000 after purchasing an additional 703,249 shares in the last quarter. Finally, Truxt Investmentos Ltda. acquired a new stake in shares of StoneCo in the 3rd quarter valued at approximately $31,695,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.

StoneCo Price Performance

STNE opened at $10.41 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of 0.38 and a beta of 2.29. The firm’s fifty day moving average price is $10.99 and its two-hundred day moving average price is $12.37. StoneCo Ltd. has a 1 year low of $9.06 and a 1 year high of $19.46.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STNE shares. Morgan Stanley restated an “underweight” rating and issued a $7.00 price target (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. Barclays reduced their price target on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. UBS Group raised their price objective on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Susquehanna dropped their price objective on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, StoneCo has a consensus rating of “Moderate Buy” and an average target price of $16.89.

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.