StoneCo Ltd. (NASDAQ:STNE – Get Free Report) traded up 6.7% during trading on Wednesday . The stock traded as high as $10.27 and last traded at $10.3070. 1,025,759 shares were traded during trading, a decline of 81% from the average daily volume of 5,337,819 shares. The stock had previously closed at $9.66.
Analyst Ratings Changes
Several brokerages recently issued reports on STNE. BTIG Research reduced their target price on shares of StoneCo from $22.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 15th. Bank of America lowered shares of StoneCo from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Wednesday, July 15th. Jefferies Financial Group began coverage on StoneCo in a research note on Thursday, July 23rd. They set a “hold” rating and a $12.60 price objective for the company. JPMorgan Chase & Co. decreased their price objective on StoneCo from $20.00 to $16.50 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Finally, UBS Group lowered their target price on StoneCo from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, August 28th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.30.
Get Our Latest Report on StoneCo
StoneCo Stock Down 0.5%
StoneCo (NASDAQ:STNE – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. StoneCo had a net margin of 22.92% and a return on equity of 22.19%. The business had revenue of $129.73 million for the quarter, compared to analyst estimates of $708.24 million. On average, analysts predict that StoneCo Ltd. will post 2.3 earnings per share for the current year.
Insider Transactions at StoneCo
In other StoneCo news, Director Silvio Morais sold 9,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $11.29, for a total transaction of $101,610.00. Following the transaction, the director owned 21,000 shares in the company, valued at approximately $237,090. This represents a 30.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.25% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in StoneCo in the 1st quarter valued at $902,000. Strs Ohio acquired a new stake in shares of StoneCo in the first quarter valued at about $70,000. Prudential Financial Inc. increased its stake in shares of StoneCo by 37.4% during the second quarter. Prudential Financial Inc. now owns 28,075 shares of the company’s stock worth $450,000 after purchasing an additional 7,635 shares in the last quarter. Invesco Ltd. increased its stake 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 purchasing an additional 19,723 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of StoneCo by 10.0% during the 2nd quarter. First Trust Advisors LP now owns 13,995 shares of the company’s stock worth $224,000 after purchasing an additional 1,273 shares during the last quarter. 73.19% of the stock is owned by institutional investors and hedge funds.
StoneCo Company Profile
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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