StoneCo Ltd. $STNE Shares Acquired by Perpetual Ltd

Perpetual Ltd increased its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 21.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 368,619 shares of the company’s stock after acquiring an additional 64,568 shares during the period. Perpetual Ltd owned approximately 0.13% of StoneCo worth $6,971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in StoneCo during the second quarter worth approximately $44,366,000. Azora Capital LP lifted its position in shares of StoneCo by 88.2% during the 2nd quarter. Azora Capital LP now owns 4,863,331 shares of the company’s stock valued at $78,008,000 after buying an additional 2,279,821 shares in the last quarter. Tekne Capital Management LLC acquired a new stake in StoneCo in the 2nd quarter valued at $35,288,000. Marshall Wace LLP acquired a new stake in StoneCo in the 2nd quarter valued at $34,768,000. Finally, Ninety One UK Ltd purchased a new stake in StoneCo in the 2nd quarter worth $21,330,000. Hedge funds and other institutional investors own 73.19% of the company’s stock.

StoneCo Stock Down 0.9%

Shares of NASDAQ STNE opened at $14.30 on Friday. The stock has a market cap of $4.09 billion, a PE ratio of -26.48, a P/E/G ratio of 0.29 and a beta of 1.85. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.72. StoneCo Ltd. has a 12-month low of $7.72 and a 12-month high of $19.95. The company has a 50-day moving average of $16.80 and a 200 day moving average of $16.15.

StoneCo (NASDAQ:STNE) last issued its earnings results on Thursday, November 6th. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. StoneCo had a positive return on equity of 20.18% and a negative net margin of 7.28%.The business had revenue of $669.49 million for the quarter, compared to analysts’ expectations of $669.81 million. As a group, sell-side analysts predict that StoneCo Ltd. will post 1.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of StoneCo in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price target on shares of StoneCo from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Zacks Research lowered StoneCo from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Bank of America raised their target price on StoneCo from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Finally, UBS Group lifted their price target on StoneCo from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.21.

About StoneCo

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.