Point72 Asset Management L.P. Buys 2,534,079 Shares of StoneCo Ltd. (NASDAQ:STNE)

Point72 Asset Management L.P. boosted its position in shares of StoneCo Ltd. (NASDAQ:STNE) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,956,554 shares of the company’s stock after purchasing an additional 2,534,079 shares during the period. Point72 Asset Management L.P.’s holdings in StoneCo were worth $111,234,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of STNE. Jones Financial Companies Lllp lifted its position in shares of StoneCo by 254.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company’s stock worth $34,000 after purchasing an additional 3,056 shares in the last quarter. Sterling Capital Management LLC grew its stake in StoneCo by 627.0% in the fourth quarter. Sterling Capital Management LLC now owns 4,551 shares of the company’s stock valued at $36,000 after purchasing an additional 3,925 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of StoneCo by 166.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,400 shares of the company’s stock worth $51,000 after purchasing an additional 4,000 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of StoneCo in the fourth quarter valued at $56,000. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in StoneCo by 31.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 7,500 shares of the company’s stock worth $59,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 73.19% of the company’s stock.

Wall Street Analyst Weigh In

STNE has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on shares of StoneCo from $5.70 to $6.00 and gave the company an “underweight” rating in a research report on Friday, March 21st. Wells Fargo & Company raised StoneCo from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, March 19th. Barclays raised their price objective on StoneCo from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday. Citigroup upgraded StoneCo from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $15.00 in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their price objective on shares of StoneCo from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.63.

StoneCo Stock Up 0.7%

STNE stock opened at $13.99 on Thursday. StoneCo Ltd. has a fifty-two week low of $7.72 and a fifty-two week high of $15.64. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.41 and a beta of 2.01. The business’s fifty day moving average price is $11.82 and its two-hundred day moving average price is $10.21.

StoneCo (NASDAQ:STNE) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. StoneCo had a net margin of 16.02% and a return on equity of 13.92%. The firm had revenue of $625.86 million during the quarter, compared to the consensus estimate of $3.68 billion. On average, equities analysts anticipate that StoneCo Ltd. will post 1.16 earnings per share for the current year.

About StoneCo

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.