Absolute Gestao de Investimentos Ltda. Has $7.42 Million Position in StoneCo Ltd. (NASDAQ:STNE)

Absolute Gestao de Investimentos Ltda. boosted its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 1,503.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 619,117 shares of the company’s stock after purchasing an additional 580,517 shares during the period. StoneCo makes up approximately 3.8% of Absolute Gestao de Investimentos Ltda.’s holdings, making the stock its 7th biggest position. Absolute Gestao de Investimentos Ltda. owned about 0.20% of StoneCo worth $7,423,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new stake in shares of StoneCo during the 1st quarter worth $41,000. Central Bank & Trust Co. purchased a new position in shares of StoneCo in the second quarter worth approximately $40,000. Benjamin F. Edwards & Company Inc. raised its stake in StoneCo by 152.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock valued at $58,000 after purchasing an additional 2,110 shares during the period. Y.D. More Investments Ltd grew its holdings in shares of StoneCo by 90.2% during the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after buying an additional 2,275 shares in the last quarter. Finally, Invst LLC purchased a new stake in StoneCo in the 1st quarter worth about $172,000. 73.19% of the stock is currently owned by institutional investors.

StoneCo Stock Up 0.9 %

Shares of STNE stock opened at $11.21 on Wednesday. The stock’s 50 day simple moving average is $12.87 and its 200 day simple moving average is $14.11. StoneCo Ltd. has a twelve month low of $9.34 and a twelve month high of $19.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.40 and a beta of 2.31.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on STNE. Evercore ISI dropped their target price on StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. The Goldman Sachs Group lowered their price target on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Morgan Stanley reiterated an “underweight” rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded 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. Finally, Barclays cut their price target on StoneCo from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. One investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.