State Street Corp Grows Stock Position in StoneCo Ltd. (NASDAQ:STNE)

State Street Corp increased its holdings in StoneCo Ltd. (NASDAQ:STNE) by 51.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,972,037 shares of the company’s stock after buying an additional 2,692,558 shares during the period. State Street Corp’s holdings in StoneCo were worth $89,765,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in STNE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in StoneCo in the 3rd quarter valued at about $9,091,000. GSA Capital Partners LLP acquired a new position in StoneCo in the 3rd quarter valued at about $716,000. BNP Paribas Financial Markets raised its stake in StoneCo by 313.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 472,758 shares of the company’s stock valued at $5,323,000 after purchasing an additional 358,398 shares during the last quarter. Citigroup Inc. raised its stake in StoneCo by 584.9% in the 3rd quarter. Citigroup Inc. now owns 1,339,972 shares of the company’s stock valued at $15,088,000 after purchasing an additional 1,144,341 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in StoneCo in the 3rd quarter valued at about $1,154,000. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STNE has been the subject of several analyst reports. Morgan Stanley reissued an “underweight” rating and issued a $7.00 target price (down previously from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays dropped 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 note on Monday, November 18th. UBS Group upped their price objective on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, StoneCo currently has an average rating of “Moderate Buy” and an average price target of $16.13.

StoneCo Stock Down 3.4 %

NASDAQ STNE opened at $8.71 on Tuesday. The stock has a market cap of $2.69 billion, a PE ratio of 6.80, a P/E/G ratio of 0.35 and a beta of 2.21. StoneCo Ltd. has a fifty-two week low of $8.70 and a fifty-two week high of $19.46. The business has a 50 day moving average price of $10.45 and a two-hundred day moving average price of $11.85. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47.

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.