Wellington Management Group LLP Cuts Stake in StoneCo Ltd. (NASDAQ:STNE)

Wellington Management Group LLP cut its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 91.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,782 shares of the company’s stock after selling 858,851 shares during the quarter. Wellington Management Group LLP’s holdings in StoneCo were worth $1,529,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new position in StoneCo in the fourth quarter valued at $26,000. USA Financial Formulas acquired a new position in shares of StoneCo during the fourth quarter worth about $26,000. Headlands Technologies LLC purchased a new stake in shares of StoneCo during the fourth quarter worth approximately $56,000. Tucker Asset Management LLC acquired a new stake in StoneCo in the third quarter valued at approximately $60,000. Finally, PNC Financial Services Group Inc. lifted its stake in StoneCo by 42.4% in the third quarter. PNC Financial Services Group Inc. now owns 9,869 shares of the company’s stock worth $105,000 after acquiring an additional 2,940 shares during the last quarter. Hedge funds and other institutional investors own 73.19% of the company’s stock.

StoneCo Stock Performance

Shares of STNE opened at $11.73 on Tuesday. The company’s 50 day simple moving average is $14.16 and its 200-day simple moving average is $16.04. The firm has a market cap of $3.69 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 0.32 and a beta of 2.36. StoneCo Ltd. has a 12-month low of $9.34 and a 12-month high of $19.46. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings data on Monday, May 13th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. StoneCo had a net margin of 14.08% and a return on equity of 12.35%. The company had revenue of $623.12 million for the quarter, compared to the consensus estimate of $633.35 million. As a group, equities analysts predict that StoneCo Ltd. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

STNE has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Thursday, June 6th. Susquehanna lowered their price objective on StoneCo from $23.00 to $22.00 and set a “positive” rating for the company in a research report on Friday, April 19th. The Goldman Sachs Group cut their target price on StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Evercore ISI lowered their price target on StoneCo from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, Citigroup raised their price objective on shares of StoneCo from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.56.

StoneCo 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.