Shares of StoneCo Ltd. (NASDAQ:STNE – Get Free Report) have been given a consensus rating of “Hold” by the ten brokerages that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $14.5857.
A number of research analysts have recently issued reports on STNE shares. Citigroup lowered StoneCo from a “buy” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $11.00 in a research report on Friday, May 15th. JPMorgan Chase & Co. cut their price target on shares of StoneCo from $20.00 to $16.50 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Jefferies Financial Group started coverage on shares of StoneCo in a research report on Thursday, July 23rd. They set a “hold” rating and a $12.60 price objective for the company. Weiss Ratings downgraded shares of StoneCo from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Finally, 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.
Read Our Latest Report on STNE
StoneCo Price Performance
StoneCo (NASDAQ:STNE – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. StoneCo had a net margin of 23.82% and a return on equity of 21.05%. The firm had revenue of $129.73 million for the quarter, compared to the consensus estimate of $708.24 million. Analysts expect that StoneCo will post 2.27 EPS for the current year.
Insider Buying and Selling at StoneCo
In related news, Director Silvio Jose Morais sold 9,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.29, for a total transaction of $101,610.00. Following the completion of the transaction, the director owned 21,000 shares in the company, valued at $237,090. This represents a 30.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.25% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On StoneCo
Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of StoneCo during the second quarter worth $9,357,000. Handelsbanken Fonder AB boosted its position in StoneCo by 3.4% during the second quarter. Handelsbanken Fonder AB now owns 43,097 shares of the company’s stock worth $467,000 after acquiring an additional 1,400 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in StoneCo by 1,288.4% during the second quarter. Assenagon Asset Management S.A. now owns 577,959 shares of the company’s stock worth $6,265,000 after acquiring an additional 536,331 shares during the last quarter. Versant Capital Management Inc boosted its position in StoneCo by 54.4% during the second quarter. Versant Capital Management Inc now owns 3,032 shares of the company’s stock worth $33,000 after acquiring an additional 1,068 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in StoneCo during the 1st quarter valued at about $1,836,000. 73.19% of the stock is currently owned by hedge funds and other institutional investors.
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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