Itau Unibanco Holding S.A. Purchases 949,671 Shares of StoneCo Ltd. (NASDAQ:STNE)

Itau Unibanco Holding S.A. raised its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 327.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,239,957 shares of the company’s stock after acquiring an additional 949,671 shares during the period. Itau Unibanco Holding S.A. owned about 0.40% of StoneCo worth $14,867,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Corient Private Wealth LLC boosted its stake in shares of StoneCo by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 33,227 shares of the company’s stock valued at $599,000 after purchasing an additional 692 shares in the last quarter. Financial Perspectives Inc boosted its position in StoneCo by 8.4% during the second quarter. Financial Perspectives Inc now owns 14,019 shares of the company’s stock valued at $168,000 after buying an additional 1,083 shares during the period. TrinityPoint Wealth LLC grew its stake in shares of StoneCo by 11.1% during the fourth quarter. TrinityPoint Wealth LLC now owns 11,696 shares of the company’s stock valued at $211,000 after buying an additional 1,167 shares during the last quarter. Stokes Family Office LLC grew its stake in shares of StoneCo by 16.8% during the first quarter. Stokes Family Office LLC now owns 14,600 shares of the company’s stock valued at $243,000 after buying an additional 2,100 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of StoneCo by 152.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock worth $58,000 after buying an additional 2,110 shares during the period. 73.19% of the stock is currently owned by institutional investors.

StoneCo Trading Down 8.5 %

NASDAQ:STNE opened at $11.30 on Friday. The company has a 50-day moving average price of $12.97 and a 200-day moving average price of $14.21. The stock has a market cap 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 company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.41. StoneCo Ltd. has a 12 month low of $9.34 and a 12 month high of $19.46.

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

Analysts Set New Price Targets

STNE has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on StoneCo from $21.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. UBS Group raised their target price on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Thursday, June 6th. Morgan Stanley reissued an “underweight” rating and set a $7.00 price target (down previously from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Finally, Evercore ISI cut their price target on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.80.

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.