Charles Schwab Investment Management Inc. Cuts Stake in StoneCo Ltd. (NASDAQ:STNE)

Charles Schwab Investment Management Inc. lowered its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,218,361 shares of the company’s stock after selling 130,388 shares during the period. Charles Schwab Investment Management Inc. owned about 0.39% of StoneCo worth $13,719,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of STNE. Central Bank & Trust Co. purchased a new stake in StoneCo during the 2nd quarter valued at $40,000. Y.D. More Investments Ltd raised its position in StoneCo by 90.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after purchasing an additional 2,275 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in StoneCo in the 3rd quarter worth approximately $125,000. Point72 Hong Kong Ltd bought a new stake in shares of StoneCo in the 2nd quarter worth approximately $135,000. Finally, nVerses Capital LLC purchased a new position in shares of StoneCo during the second quarter valued at approximately $137,000. 73.19% of the stock is owned by institutional investors.

StoneCo Price Performance

Shares of STNE opened at $9.16 on Monday. StoneCo Ltd. has a fifty-two week low of $9.06 and a fifty-two week high of $19.46. The firm’s 50-day simple moving average is $10.70 and its two-hundred day simple moving average is $12.06. The stock has a market cap of $2.83 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 0.33 and a beta of 2.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42.

Wall Street Analyst Weigh In

Several analysts recently weighed in on STNE shares. Morgan Stanley reiterated an “underweight” rating and issued a $7.00 price target (down previously from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. UBS Group boosted their price target on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Barclays lowered their price objective on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Finally, Susquehanna reduced their target price on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.89.

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.