Seven Eight Capital LP Takes $1.46 Million Position in StoneCo Ltd. (NASDAQ:STNE)

Seven Eight Capital LP bought a new position in shares of StoneCo Ltd. (NASDAQ:STNE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 121,579 shares of the company’s stock, valued at approximately $1,458,000.

A number of other institutional investors have also made changes to their positions in the business. Central Bank & Trust Co. bought a new position in StoneCo during the second quarter worth $40,000. Lazard Asset Management LLC bought a new position in StoneCo in the 1st quarter valued at about $41,000. Benjamin F. Edwards & Company Inc. raised its holdings in StoneCo by 152.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock valued at $58,000 after acquiring an additional 2,110 shares during the period. Y.D. More Investments Ltd lifted its position in StoneCo by 90.2% during the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after acquiring an additional 2,275 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of StoneCo during the second quarter worth approximately $137,000. 73.19% of the stock is owned by institutional investors and hedge funds.

StoneCo Stock Performance

Shares of StoneCo stock opened at $12.35 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.41. The company has a market cap of $3.82 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 0.44 and a beta of 2.31. The company has a 50 day moving average of $13.03 and a 200-day moving average of $14.27. StoneCo Ltd. has a 1-year low of $9.34 and a 1-year high of $19.46.

StoneCo (NASDAQ:STNE) last released its earnings results on Wednesday, August 14th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.04). StoneCo had a return on equity of 13.21% and a net margin of 15.27%. The business had revenue of $615.13 million for the quarter, compared to the consensus estimate of $590.74 million. As a group, equities research analysts forecast that StoneCo Ltd. will post 1.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STNE. Morgan Stanley reiterated an “underweight” rating and set a $7.00 target price (down previously from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. The Goldman Sachs Group dropped their target price on StoneCo from $21.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Evercore ISI decreased their price target on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Barclays lowered their price target on shares of StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, UBS Group boosted their price objective on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, StoneCo presently has an average rating of “Moderate Buy” and an average target price of $17.80.

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.