Principal Financial Group Inc. Sells 230,931 Shares of StoneCo Ltd. (NASDAQ:STNE)

Principal Financial Group Inc. lessened its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 90.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 23,518 shares of the company’s stock after selling 230,931 shares during the quarter. Principal Financial Group Inc.’s holdings in StoneCo were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in STNE. Y.D. More Investments Ltd raised its stake in StoneCo by 90.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after acquiring an additional 2,275 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of StoneCo during the 3rd quarter valued at $125,000. Point72 Hong Kong Ltd purchased a new position in shares of StoneCo during the 2nd quarter valued at $135,000. Covestor Ltd boosted its holdings in StoneCo by 40.9% in the 3rd quarter. Covestor Ltd now owns 13,350 shares of the company’s stock worth $150,000 after buying an additional 3,878 shares during the period. Finally, Financial Perspectives Inc increased its stake in StoneCo by 8.4% in the 2nd quarter. Financial Perspectives Inc now owns 14,019 shares of the company’s stock worth $168,000 after buying an additional 1,083 shares in the last quarter. Institutional investors own 73.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Susquehanna dropped their price objective on StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research note on Wednesday, November 13th. Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Finally, Barclays dropped their target price on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.13.

StoneCo Trading Up 2.0 %

STNE stock opened at $8.19 on Tuesday. The firm has a fifty day moving average price of $9.55 and a 200 day moving average price of $11.36. StoneCo Ltd. has a fifty-two week low of $7.83 and a fifty-two week high of $19.46. The firm has a market cap of $2.53 billion, a PE ratio of 6.40, a price-to-earnings-growth ratio of 0.35 and a beta of 2.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42.

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.