StoneCo Ltd. (NASDAQ:STNE) Shares Sold by AlphaCrest Capital Management LLC

AlphaCrest Capital Management LLC lowered its position in StoneCo Ltd. (NASDAQ:STNE – Get Rating) by 64.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,766 shares of the company’s stock after selling 103,998 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in StoneCo were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tortoise Index Solutions LLC grew its stake in StoneCo by 13.2% in the second quarter. Tortoise Index Solutions LLC now owns 9,019 shares of the company’s stock worth $69,000 after purchasing an additional 1,053 shares in the last quarter. LPL Financial LLC boosted its stake in StoneCo by 2.7% in the second quarter. LPL Financial LLC now owns 47,979 shares of the company’s stock valued at $369,000 after acquiring an additional 1,262 shares during the period. Hudock Inc. boosted its position in shares of StoneCo by 26.4% during the third quarter. Hudock Inc. now owns 12,850 shares of the company’s stock worth $122,000 after buying an additional 2,686 shares during the period. Private Advisor Group LLC boosted its position in shares of StoneCo by 10.7% during the third quarter. Private Advisor Group LLC now owns 28,245 shares of the company’s stock worth $269,000 after buying an additional 2,735 shares during the period. Finally, Advisor Group Holdings Inc. boosted its position in shares of StoneCo by 10.1% during the first quarter. Advisor Group Holdings Inc. now owns 35,254 shares of the company’s stock worth $417,000 after buying an additional 3,240 shares during the period. Institutional investors and hedge funds own 59.80% of the company’s stock.

StoneCo Price Performance

Shares of StoneCo stock opened at $8.92 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -10.49 and a beta of 2.23. StoneCo Ltd. has a 1-year low of $6.81 and a 1-year high of $15.01. The firm’s 50-day moving average price is $9.70 and its two-hundred day moving average price is $9.96.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on STNE shares. The Goldman Sachs Group upgraded StoneCo from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $7.50 to $11.00 in a research report on Thursday, December 1st. Wells Fargo & Company dropped their target price on StoneCo from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, January 9th. Evercore ISI raised StoneCo from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $10.00 to $16.00 in a report on Monday, November 28th. Grupo Santander raised StoneCo from an “underperform” rating to a “neutral” rating in a report on Wednesday, December 14th. Finally, Morgan Stanley cut StoneCo from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $17.00 to $15.00 in a report on Tuesday, December 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.25.

StoneCo Company Profile

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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. The firm offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.