SG Americas Securities LLC Increases Stock Holdings in StoneCo Ltd. (NASDAQ:STNE)

SG Americas Securities LLC lifted its position in StoneCo Ltd. (NASDAQ:STNE) by 233.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,093 shares of the company’s stock after buying an additional 82,003 shares during the quarter. SG Americas Securities LLC’s holdings in StoneCo were worth $1,318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Coronation Fund Managers Ltd. lifted its holdings in shares of StoneCo by 4.6% in the second quarter. Coronation Fund Managers Ltd. now owns 2,562,394 shares of the company’s stock worth $30,723,000 after buying an additional 113,656 shares in the last quarter. New Century Financial Group LLC bought a new position in shares of StoneCo in the second quarter worth approximately $887,000. Point72 Asset Management L.P. increased its position in shares of StoneCo by 10.2% in the second quarter. Point72 Asset Management L.P. now owns 8,386,945 shares of the company’s stock worth $100,559,000 after purchasing an additional 779,445 shares during the last quarter. Invst LLC increased its position in shares of StoneCo by 116.9% in the second quarter. Invst LLC now owns 22,892 shares of the company’s stock worth $269,000 after purchasing an additional 12,336 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of StoneCo by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 123,275 shares of the company’s stock worth $1,478,000 after purchasing an additional 1,848 shares during the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on STNE. UBS Group upped their price objective on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Evercore ISI decreased their price objective on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Barclays decreased their price objective 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, The Goldman Sachs Group reduced their price target on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

StoneCo Stock Performance

NASDAQ:STNE opened at $10.85 on Thursday. The firm has a market cap of $3.41 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 0.40 and a beta of 2.30. StoneCo Ltd. has a fifty-two week low of $9.34 and a fifty-two week 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 business has a 50 day moving average price of $12.40 and a 200-day moving average price of $13.68.

StoneCo (NASDAQ:STNE) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.30 earnings per share 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 analysts’ expectations of $590.74 million. StoneCo had a net margin of 15.27% and a return on equity of 13.21%. Equities research analysts predict that StoneCo Ltd. will post 1.21 earnings per share for the current year.

StoneCo Company 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.