StoneCo (NASDAQ:STNE) Reaches New 12-Month Low – Here’s What Happened

Shares of StoneCo Ltd. (NASDAQ:STNE) hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $7.04 and last traded at $7.4590, with a volume of 4,427,751 shares. The stock had previously closed at $11.48.

Wall Street Analysts Forecast Growth

STNE has been the topic of a number of research reports. Weiss Ratings upgraded StoneCo from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 20th. Bank of America downgraded shares of StoneCo from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research note on Wednesday, July 15th. UBS Group reaffirmed a “buy” rating on shares of StoneCo in a research note on Thursday, October 15th. Finally, Jefferies Financial Group initiated coverage on StoneCo in a research note on Thursday, July 23rd. They issued a “hold” rating and a $12.60 target price on the stock. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, StoneCo has an average rating of “Hold” and an average price target of $14.30.

StoneCo Stock Down 2.2%

The business has a fifty day moving average of $10.20 and a two-hundred day moving average of $12.30.

StoneCo (NASDAQ:STNE) last posted its earnings results on Thursday, August 13th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $129.73 million for the quarter, compared to analysts’ expectations of $708.24 million. Analysts expect that StoneCo Ltd. will post 2.21 earnings per share for the current year.

Insiders Place Their Bets

In other StoneCo news, Director Silvio Morais sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $9.91, for a total transaction of $208,110.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On StoneCo

Several hedge funds have recently made changes to their positions in STNE. SBI Securities Co. Ltd. boosted its position in shares of StoneCo by 19.5% in the third quarter. SBI Securities Co. Ltd. now owns 6,109 shares of the company’s stock worth $57,000 after acquiring an additional 995 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in StoneCo by 559.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,885,009 shares of the company’s stock worth $64,306,000 after purchasing an additional 5,840,741 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in StoneCo during the third quarter valued at approximately $4,296,000. GAMMA Investing LLC increased its position in shares of StoneCo by 63.1% in the third quarter. GAMMA Investing LLC now owns 6,339 shares of the company’s stock worth $59,000 after acquiring an additional 2,452 shares in the last quarter. Finally, Andra AP fonden raised its stake in shares of StoneCo by 159.5% in the 2nd quarter. Andra AP fonden now owns 1,593,600 shares of the company’s stock valued at $17,275,000 after acquiring an additional 979,400 shares during the period. Institutional investors and hedge funds own 73.19% of the company’s stock.

StoneCo Company Profile

StoneCo Ltd. is a financial technology company that provides payment processing and business-management solutions primarily to small and medium-sized businesses in Brazil. Through its Stone brand, the company enables merchants to accept payments in physical stores and online, including card, digital-wallet and other electronic transactions.

Its products and services include point-of-sale terminals, payment gateways, transaction processing, digital banking and financial-account services, as well as working-capital and other credit solutions for eligible merchants.