Truist Financial Corp Lowers Stake in StoneCo Ltd. (NASDAQ:STNE)

Truist Financial Corp lowered its stake in shares of StoneCo Ltd. (NASDAQ:STNE) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,772 shares of the company’s stock after selling 2,500 shares during the period. Truist Financial Corp’s holdings in StoneCo were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Central Bank & Trust Co. purchased a new stake in shares of StoneCo during the 2nd quarter valued at $40,000. Lazard Asset Management LLC purchased a new stake in shares of StoneCo during the 1st quarter valued at $41,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of StoneCo by 152.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,497 shares of the company’s stock valued at $58,000 after purchasing an additional 2,110 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of StoneCo by 90.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after purchasing an additional 2,275 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of StoneCo during the 2nd quarter valued at $135,000. Hedge funds and other institutional investors own 73.19% of the company’s stock.

StoneCo Price Performance

Shares of STNE opened at $10.96 on Wednesday. The business’s 50-day moving average is $12.29 and its two-hundred day moving average is $13.51. The company has a market capitalization of $3.44 billion, a P/E ratio of 9.87, a P/E/G ratio of 0.39 and a beta of 2.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.36 and a current ratio of 1.36. StoneCo Ltd. has a fifty-two week low of $9.34 and a fifty-two week high of $19.46.

StoneCo (NASDAQ:STNE) last posted its earnings results on Wednesday, August 14th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.04). StoneCo had a return on equity of 13.21% and a net margin of 15.27%. The firm had revenue of $615.13 million for the quarter, compared to analysts’ expectations of $590.74 million. Research analysts predict that StoneCo Ltd. will post 1.21 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on STNE. Evercore ISI decreased their price objective on StoneCo from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Morgan Stanley reissued an “underweight” rating and issued a $7.00 target price (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. The Goldman Sachs Group cut their target price on StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Barclays cut their target price on StoneCo from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.70.

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.