StoneCo Ltd’s Lock-Up Period Set To End on April 23rd (NASDAQ:STNE)

StoneCo’s (NASDAQ:STNE) lock-up period is set to end on Tuesday, April 23rd. StoneCo had issued 50,724,638 shares in its public offering on October 25th. The total size of the offering was $1,217,391,312 based on an initial share price of $24.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

STNE has been the topic of several research reports. Zacks Investment Research raised shares of StoneCo from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Friday, March 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $47.00 price objective (up previously from $35.00) on shares of StoneCo in a research report on Thursday, March 21st. Citigroup lowered shares of StoneCo from a “buy” rating to a “neutral” rating in a research report on Friday, April 5th. Finally, Bank of America lifted their price objective on shares of StoneCo from $26.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $35.27.

Shares of STNE stock opened at $35.95 on Tuesday. The stock has a market capitalization of $9.77 billion and a price-to-earnings ratio of 108.94. StoneCo has a 52 week low of $16.14 and a 52 week high of $45.62.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings data on Monday, March 18th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $139.04 million during the quarter, compared to the consensus estimate of $116.87 million. On average, equities analysts forecast that StoneCo will post 0.83 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. Partner Investment Management L.P. bought a new stake in StoneCo in the fourth quarter worth about $42,000. Victory Capital Management Inc. bought a new stake in StoneCo in the fourth quarter worth about $46,000. Intellectus Partners LLC bought a new stake in StoneCo in the fourth quarter worth about $104,000. Zimmer Partners LP bought a new stake in shares of StoneCo in the fourth quarter valued at approximately $184,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of StoneCo in the fourth quarter valued at approximately $293,000. 33.26% of the stock is currently owned by institutional investors and hedge funds.

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About StoneCo

StoneCo Ltd. provides financial technology solutions that empower 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 technology and solutions to digital merchants through sales and technical personnel and software vendors.

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