Swiss National Bank lessened its holdings in shares of StoneCo Ltd. (NASDAQ:STNE – Free Report) by 11.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 431,288 shares of the company’s stock after selling 56,500 shares during the period. Swiss National Bank’s holdings in StoneCo were worth $6,090,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in StoneCo by 11,473.3% in the 4th quarter. Blue Trust Inc. now owns 1,736 shares of the company’s stock worth $26,000 after buying an additional 1,721 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of StoneCo during the fourth quarter worth approximately $28,000. Rockefeller Capital Management L.P. lifted its holdings in shares of StoneCo by 74.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,199 shares of the company’s stock worth $33,000 after buying an additional 936 shares during the last quarter. Ensign Peak Advisors Inc bought a new stake in shares of StoneCo in the fourth quarter valued at approximately $33,000. Finally, Torren Management LLC bought a new stake in shares of StoneCo in the fourth quarter valued at approximately $35,000. Institutional investors own 73.19% of the company’s stock.
StoneCo Price Performance
Shares of NASDAQ:STNE opened at $11.16 on Wednesday. StoneCo Ltd. has a 1-year low of $9.45 and a 1-year high of $19.95. The firm has a market capitalization of $2.78 billion, a PE ratio of 4.46, a PEG ratio of 0.32 and a beta of 1.73. The business’s 50 day moving average is $10.99 and its 200-day moving average is $13.23. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.57.
Insiders Place Their Bets
In other StoneCo news, Director Silvio Jose Morais sold 9,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $11.29, for a total value of $101,610.00. Following the sale, the director owned 21,000 shares of the company’s stock, valued at $237,090. The trade was a 30.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on STNE shares. BTIG Research dropped their target price on shares of StoneCo from $22.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Bank of America downgraded shares of StoneCo from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Wednesday, July 15th. Citigroup lowered shares of StoneCo from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $11.00 in a research report on Friday, May 15th. Weiss Ratings downgraded shares of StoneCo from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Finally, UBS Group cut their price objective on shares of StoneCo from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, StoneCo has a consensus rating of “Hold” and an average target price of $14.59.
Read Our Latest Stock Report on STNE
About StoneCo
StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.
Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.
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