Atria Investments Inc Raises Stake in StoneCo Ltd. (NASDAQ:STNE)

Atria Investments Inc raised its position in StoneCo Ltd. (NASDAQ:STNE) by 19.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,258 shares of the company’s stock after purchasing an additional 3,241 shares during the period. Atria Investments Inc’s holdings in StoneCo were worth $228,000 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. Gulf International Bank UK Ltd acquired a new stake in StoneCo in the third quarter valued at $210,000. Asset Management One Co. Ltd. boosted its holdings in StoneCo by 681.9% in the third quarter. Asset Management One Co. Ltd. now owns 33,964 shares of the company’s stock valued at $382,000 after purchasing an additional 29,620 shares in the last quarter. National Pension Service purchased a new position in StoneCo in the third quarter valued at approximately $915,000. Coronation Fund Managers Ltd. raised its holdings in StoneCo by 43.4% during the third quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company’s stock worth $41,363,000 after purchasing an additional 1,111,065 shares in the last quarter. Finally, Vinland Capital Management Gestora de Recursos LTDA. purchased a new stake in shares of StoneCo during the 3rd quarter worth approximately $539,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Susquehanna cut their price target on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research note on Wednesday, November 13th. Barclays dropped their price target on StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Morgan Stanley restated an “underweight” rating and set a $7.00 target price (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Finally, UBS Group increased their price target on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.89.

StoneCo Trading Up 10.7 %

NASDAQ STNE opened at $10.26 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $3.17 billion, a P/E ratio of 8.02, a P/E/G ratio of 0.33 and a beta of 2.29. StoneCo Ltd. has a 52-week low of $9.06 and a 52-week high of $19.46. The firm has a 50-day moving average price of $11.05 and a 200 day moving average price of $12.48.

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.