Fmr LLC Raises Holdings in StoneCo Ltd. (NASDAQ:STNE)

Fmr LLC boosted its holdings in StoneCo Ltd. (NASDAQ:STNE) by 466.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,492 shares of the company’s stock after buying an additional 53,106 shares during the quarter. Fmr LLC’s holdings in StoneCo were worth $726,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 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 worth $58,000 after buying an additional 2,275 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of StoneCo during the third quarter worth about $125,000. Point72 Hong Kong Ltd purchased a new stake in StoneCo in the 2nd quarter valued at about $135,000. nVerses Capital LLC acquired a new position in shares of StoneCo in the 2nd quarter valued at about $137,000. Finally, Covestor Ltd increased its holdings in StoneCo by 40.9% in the 3rd quarter. Covestor Ltd now owns 13,350 shares of the company’s stock valued at $150,000 after purchasing an additional 3,878 shares in the last quarter. 73.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on STNE. Susquehanna cut their price target on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research note on Wednesday, November 13th. Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. dropped their price target on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday. Morgan Stanley reaffirmed an “underweight” rating and set a $7.00 price target (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. Finally, UBS Group upped their price target on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.13.

StoneCo Price Performance

NASDAQ:STNE opened at $8.71 on Wednesday. The business’s fifty day moving average price is $10.40 and its 200 day moving average price is $11.81. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 0.35 and a beta of 2.21. StoneCo Ltd. has a 1-year low of $8.64 and a 1-year high of $19.46.

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.