Verition Fund Management LLC Has $241,000 Stock Position in StoneCo Ltd. (NASDAQ:STNE)

Verition Fund Management LLC cut its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 96.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,399 shares of the company’s stock after selling 639,085 shares during the period. Verition Fund Management LLC’s holdings in StoneCo were worth $241,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd increased its holdings in 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 purchasing an additional 2,275 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in StoneCo during the third quarter worth $125,000. Point72 Hong Kong Ltd purchased a new stake in StoneCo in the 2nd quarter valued at $135,000. nVerses Capital LLC bought a new position in shares of StoneCo during the second quarter valued at about $137,000. Finally, Covestor Ltd boosted its stake in shares of StoneCo by 40.9% in the 3rd quarter. Covestor Ltd now owns 13,350 shares of the company’s stock worth $150,000 after buying an additional 3,878 shares during the last quarter. Institutional investors and hedge funds own 73.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on STNE shares. Susquehanna decreased their target price on StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research report on Wednesday, November 13th. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Morgan Stanley reissued an “underweight” rating and set a $7.00 target price (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. UBS Group upped their price objective on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Barclays decreased their target price on StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, StoneCo has a consensus rating of “Moderate Buy” and an average price target of $16.75.

StoneCo Price Performance

StoneCo stock opened at $9.02 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. StoneCo Ltd. has a one year low of $8.87 and a one year high of $19.46. The firm has a market capitalization of $2.79 billion, a P/E ratio of 7.05, a PEG ratio of 0.35 and a beta of 2.21. The business has a fifty day moving average price of $10.50 and a 200-day moving average price of $11.88.

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.