Perpetual Ltd decreased its stake in StoneCo Ltd (NASDAQ:STNE) by 25.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,300 shares of the company’s stock after selling 17,200 shares during the quarter. Perpetual Ltd’s holdings in StoneCo were worth $1,715,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of StoneCo by 10.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,168,221 shares of the company’s stock valued at $1,040,276,000 after purchasing an additional 3,234,024 shares during the period. Invesco Ltd. purchased a new stake in StoneCo in the 2nd quarter worth about $251,806,000. Maverick Capital Ltd. purchased a new stake in StoneCo in the 2nd quarter worth about $77,364,000. Bamco Inc. NY lifted its stake in StoneCo by 103.6% in the 2nd quarter. Bamco Inc. NY now owns 2,103,266 shares of the company’s stock worth $62,215,000 after acquiring an additional 1,069,975 shares in the last quarter. Finally, Echo Street Capital Management LLC lifted its stake in StoneCo by 240.0% in the 2nd quarter. Echo Street Capital Management LLC now owns 1,629,660 shares of the company’s stock worth $48,205,000 after acquiring an additional 1,150,301 shares in the last quarter. Institutional investors and hedge funds own 41.93% of the company’s stock.
Shares of STNE traded up $0.64 during midday trading on Thursday, reaching $34.21. 43,467 shares of the stock were exchanged, compared to its average volume of 1,741,961. StoneCo Ltd has a 12-month low of $16.14 and a 12-month high of $45.62. The firm has a 50 day simple moving average of $33.10 and a 200-day simple moving average of $31.83. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The company has a market cap of $9.39 billion and a price-to-earnings ratio of 103.27.
StoneCo (NASDAQ:STNE) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. StoneCo had a return on equity of 10.16% and a net margin of 27.40%. The company had revenue of $149.52 million during the quarter. Research analysts expect that StoneCo Ltd will post 0.73 earnings per share for the current fiscal year.
STNE has been the subject of several research analyst reports. Zacks Investment Research downgraded StoneCo from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Credit Suisse Group raised StoneCo from a “neutral” rating to an “outperform” rating in a research note on Monday, July 22nd. Guggenheim initiated coverage on StoneCo in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on StoneCo from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Bank of America reissued a “buy” rating and issued a $42.00 price objective on shares of StoneCo in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. StoneCo presently has an average rating of “Hold” and an average price target of $35.89.
StoneCo Company Profile
StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.
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