Assenagon Asset Management S.A. Has $872,000 Position in StoneCo Ltd. (NASDAQ:STNE)

Assenagon Asset Management S.A. cut its stake in StoneCo Ltd. (NASDAQ:STNE) by 63.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,379 shares of the company’s stock after selling 189,715 shares during the quarter. Assenagon Asset Management S.A.’s holdings in StoneCo were worth $872,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. raised its stake in shares of StoneCo by 36.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock valued at $128,617,000 after acquiring an additional 3,035,530 shares in the last quarter. Truxt Investmentos Ltda. bought a new position in shares of StoneCo in the third quarter valued at approximately $31,695,000. State Street Corp lifted its position in StoneCo by 51.0% during the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company’s stock worth $89,765,000 after acquiring an additional 2,692,558 shares during the last quarter. Geode Capital Management LLC boosted its holdings in StoneCo by 36.0% during the third quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company’s stock valued at $58,302,000 after acquiring an additional 1,374,788 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in StoneCo by 327.4% during the third quarter. JPMorgan Chase & Co. now owns 1,580,679 shares of the company’s stock valued at $17,798,000 after acquiring an additional 1,210,817 shares during the period. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

StoneCo Stock Performance

NASDAQ:STNE opened at $8.69 on Friday. The firm has a market capitalization of $2.68 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 0.34 and a beta of 2.23. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo Ltd. has a 12-month low of $7.72 and a 12-month high of $19.46. The firm has a 50-day moving average price of $8.79 and a 200 day moving average price of $11.01.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Barclays lowered their price objective on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Susquehanna reduced their price target on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a report on Wednesday, November 13th. Citigroup restated a “neutral” rating and set a $9.00 price objective (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.75.

StoneCo 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.