Discovery Capital Management LLC CT Has $4.63 Million Stake in StoneCo Ltd. (NASDAQ:STNE)

Discovery Capital Management LLC CT cut its position in StoneCo Ltd. (NASDAQ:STNE) by 48.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 386,248 shares of the company’s stock after selling 367,100 shares during the quarter. Discovery Capital Management LLC CT owned 0.13% of StoneCo worth $4,631,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley reissued 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 price objective on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. raised shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Thursday, June 6th. Evercore ISI dropped their price target on StoneCo from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, UBS Group boosted their price objective on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.80.

StoneCo Stock Down 8.5 %

Shares of NASDAQ:STNE opened at $11.30 on Monday. The firm has a market cap of $3.55 billion, a P/E ratio of 10.18, a P/E/G ratio of 0.44 and a beta of 2.31. StoneCo Ltd. has a 12-month low of $9.34 and a 12-month high of $19.46. The business has a fifty day simple moving average of $12.97 and a 200 day simple moving average of $14.19. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.41.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). The company had revenue of $615.13 million for the quarter, compared to the consensus estimate of $590.74 million. StoneCo had a return on equity of 13.21% and a net margin of 15.27%. Analysts predict that StoneCo Ltd. will post 1.1 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.