StoneCo (NASDAQ:STNE) Releases Quarterly Earnings Results, Hits Estimates

StoneCo (NASDAQ:STNE) issued its quarterly earnings data on Thursday. The company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43, Zacks reports. StoneCo had a positive return on equity of 20.42% and a negative net margin of 7.28%.The business had revenue of $669.49 million during the quarter, compared to analysts’ expectations of $669.81 million.

StoneCo Stock Performance

Shares of NASDAQ:STNE traded down $2.04 on Friday, reaching $16.83. The company’s stock had a trading volume of 18,615,914 shares, compared to its average volume of 3,926,425. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $4.81 billion, a P/E ratio of -31.17, a PEG ratio of 0.37 and a beta of 2.01. StoneCo has a 52-week low of $7.72 and a 52-week high of $19.95. The stock’s 50-day moving average is $18.23 and its two-hundred day moving average is $15.69.

Institutional Trading of StoneCo

A number of institutional investors have recently bought and sold shares of STNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of StoneCo by 1.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,534,567 shares of the company’s stock worth $24,598,000 after acquiring an additional 19,825 shares during the last quarter. Man Group plc acquired a new position in StoneCo in the 2nd quarter valued at about $13,329,000. Balyasny Asset Management L.P. boosted its stake in shares of StoneCo by 210.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 733,116 shares of the company’s stock worth $11,759,000 after purchasing an additional 496,650 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of StoneCo by 25.1% during the second quarter. California Public Employees Retirement System now owns 444,854 shares of the company’s stock worth $7,135,000 after buying an additional 89,202 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of StoneCo by 8.3% during the second quarter. Invesco Ltd. now owns 256,142 shares of the company’s stock worth $4,109,000 after buying an additional 19,723 shares in the last quarter. 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 research reports. Bank of America lifted their target price on StoneCo from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. UBS Group upped their target price on shares of StoneCo from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. The Goldman Sachs Group raised their price target on shares of StoneCo from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Wall Street Zen downgraded StoneCo from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StoneCo in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.44.

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.