Hsbc Holdings PLC Has $27.15 Million Stock Position in StoneCo Ltd. (NASDAQ:STNE)

Hsbc Holdings PLC raised its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 2,445.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,287,353 shares of the company’s stock after purchasing an additional 2,197,495 shares during the period. Hsbc Holdings PLC owned 0.73% of StoneCo worth $27,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. UBS Group AG raised its stake in shares of StoneCo by 14.5% during the fourth quarter. UBS Group AG now owns 2,001,221 shares of the company’s stock worth $36,082,000 after buying an additional 253,276 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of StoneCo in the 4th quarter valued at $2,008,000. Norges Bank bought a new position in shares of StoneCo in the 4th quarter worth $58,777,000. Lord Abbett & CO. LLC acquired a new stake in shares of StoneCo during the first quarter worth $33,139,000. Finally, Vanguard Group Inc. increased its holdings in StoneCo by 3.5% in the first quarter. Vanguard Group Inc. now owns 2,636,619 shares of the company’s stock valued at $43,794,000 after purchasing an additional 88,256 shares during the last quarter. Institutional investors own 73.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI reduced their target price on StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. The Goldman Sachs Group decreased their price objective on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Barclays cut their target price on shares of StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Morgan Stanley reissued 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. Finally, UBS Group raised their price objective on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, StoneCo currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

StoneCo Stock Performance

STNE opened at $11.30 on Friday. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 0.44 and a beta of 2.31. The business’s 50-day moving average price is $12.97 and its two-hundred day moving average price is $14.21. StoneCo Ltd. has a 1 year low of $9.34 and a 1 year high of $19.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.36 and a quick ratio of 1.36.

StoneCo (NASDAQ:STNE) last released its earnings results on Wednesday, August 14th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.04). StoneCo had a net margin of 15.27% and a return on equity of 13.21%. The firm had revenue of $615.13 million during the quarter, compared to the consensus estimate of $590.74 million. Equities analysts expect that StoneCo Ltd. will post 1.1 EPS for the current fiscal 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.