Mirae Asset Global Investments Co. Ltd. Has $7.92 Million Stake in StoneCo Ltd. (NASDAQ:STNE)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of StoneCo Ltd. (NASDAQ:STNEGet Rating) by 9.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676,704 shares of the company’s stock after selling 73,717 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.22% of StoneCo worth $7,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Walleye Capital LLC acquired a new stake in shares of StoneCo in the 1st quarter valued at $1,500,000. Gamco Investors INC. ET AL acquired a new stake in shares of StoneCo in the 1st quarter valued at $199,000. Virtu Financial LLC acquired a new stake in shares of StoneCo in the 1st quarter valued at $411,000. Mirabella Financial Services LLP acquired a new stake in shares of StoneCo in the 1st quarter valued at $404,000. Finally, KB Financial Partners LLC increased its stake in shares of StoneCo by 27.6% in the 1st quarter. KB Financial Partners LLC now owns 27,328 shares of the company’s stock valued at $320,000 after buying an additional 5,917 shares during the period. 59.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

STNE has been the topic of several recent research reports. Susquehanna reduced their price target on StoneCo from $28.00 to $20.00 in a research report on Monday, July 11th. Wells Fargo & Company reduced their price target on StoneCo from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 8th. Susquehanna Bancshares reduced their price target on StoneCo from $28.00 to $20.00 in a research report on Monday, July 11th. Finally, The Goldman Sachs Group lowered StoneCo from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $9.80 to $7.80 in a research report on Tuesday, September 6th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.63.

StoneCo Stock Performance

STNE stock opened at $9.94 on Thursday. The business’s 50-day moving average price is $9.81 and its two-hundred day moving average price is $9.82. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.11 billion, a PE ratio of -5.68 and a beta of 2.34. StoneCo Ltd. has a 1-year low of $6.81 and a 1-year high of $41.18.

StoneCo (NASDAQ:STNEGet Rating) last posted its earnings results on Thursday, August 18th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.20 billion. StoneCo had a negative return on equity of 7.68% and a negative net margin of 36.63%. The company’s revenue for the quarter was up 275.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. As a group, research analysts forecast that StoneCo Ltd. will post 0.2 earnings per share for the current year.

StoneCo Company Profile

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StoneCo Ltd. provides financial technology 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 technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.

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Institutional Ownership by Quarter for StoneCo (NASDAQ:STNE)

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