Handelsbanken Fonder AB Sells 9,400 Shares of StoneCo Ltd. (NASDAQ:STNE)

Handelsbanken Fonder AB reduced its stake in StoneCo Ltd. (NASDAQ:STNEGet Rating) by 22.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,300 shares of the company’s stock after selling 9,400 shares during the period. Handelsbanken Fonder AB’s holdings in StoneCo were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in STNE. Asset Management One Co. Ltd. grew its stake in StoneCo by 33.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 6,665 shares of the company’s stock worth $51,000 after acquiring an additional 1,684 shares in the last quarter. Tortoise Index Solutions LLC boosted its stake in shares of StoneCo by 13.2% during the second quarter. Tortoise Index Solutions LLC now owns 9,019 shares of the company’s stock valued at $69,000 after purchasing an additional 1,053 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of StoneCo by 281.5% during the first quarter. Captrust Financial Advisors now owns 6,268 shares of the company’s stock valued at $73,000 after purchasing an additional 4,625 shares in the last quarter. Canton Hathaway LLC bought a new position in shares of StoneCo during the second quarter valued at approximately $83,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of StoneCo during the second quarter valued at approximately $85,000. 59.80% of the stock is currently owned by institutional investors.

StoneCo Trading Up 3.2 %

NASDAQ STNE opened at $9.91 on Thursday. The company has a fifty day simple moving average of $10.14 and a two-hundred day simple moving average of $9.90. The stock has a market cap of $3.10 billion, a P/E ratio of -11.66 and a beta of 2.17. StoneCo Ltd. has a 12-month low of $6.81 and a 12-month high of $18.15. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.22.

StoneCo (NASDAQ:STNEGet Rating) last posted its quarterly earnings results on Thursday, November 17th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $478.88 million during the quarter, compared to analysts’ expectations of $477.52 million. StoneCo had a negative net margin of 15.73% and a positive return on equity of 2.48%. On average, analysts forecast that StoneCo Ltd. will post 0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STNE shares. Morgan Stanley downgraded shares of StoneCo from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $17.00 to $15.00 in a research note on Tuesday, December 6th. Wells Fargo & Company dropped their price objective on shares of StoneCo from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday. Evercore ISI upgraded shares of StoneCo from an “in-line” rating to an “outperform” rating and raised their target price for the company from $10.00 to $16.00 in a research note on Monday, November 28th. Grupo Santander upgraded shares of StoneCo from an “underperform” rating to a “neutral” rating in a research note on Wednesday, December 14th. Finally, The Goldman Sachs Group upgraded shares of StoneCo from a “sell” rating to a “neutral” rating and raised their target price for the company from $7.50 to $11.00 in a research note on Thursday, December 1st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.33.

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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