StoneCo Ltd. (NASDAQ:STNE) Stock Holdings Cut by California State Teachers Retirement System

California State Teachers Retirement System lowered its stake in StoneCo Ltd. (NASDAQ:STNE) by 6.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,132 shares of the company’s stock after selling 7,527 shares during the quarter. California State Teachers Retirement System’s holdings in StoneCo were worth $984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its holdings in shares of StoneCo by 191.7% during the 4th quarter. Point72 Asset Management L.P. now owns 12,021,200 shares of the company’s stock valued at $113,480,000 after acquiring an additional 7,899,800 shares in the last quarter. BlackRock Inc. increased its position in StoneCo by 27.8% in the 3rd quarter. BlackRock Inc. now owns 21,451,911 shares of the company’s stock worth $204,437,000 after purchasing an additional 4,666,575 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of StoneCo during the 1st quarter valued at about $41,101,000. Renaissance Technologies LLC acquired a new position in StoneCo in the first quarter worth approximately $35,504,000. Finally, State Street Corp raised its position in StoneCo by 85.9% during the second quarter. State Street Corp now owns 4,404,305 shares of the company’s stock valued at $33,913,000 after acquiring an additional 2,034,974 shares in the last quarter. 77.54% of the stock is currently owned by hedge funds and other institutional investors.

StoneCo Stock Up 2.3 %

Shares of NASDAQ STNE opened at $12.54 on Friday. StoneCo Ltd. has a 1 year low of $8.07 and a 1 year high of $14.83. The firm’s 50-day moving average is $12.80 and its 200-day moving average is $11.76. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $3.92 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 0.29 and a beta of 2.22.

StoneCo (NASDAQ:STNE) last released its earnings results on Wednesday, August 16th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. StoneCo had a net margin of 7.51% and a return on equity of 6.66%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the business earned $0.03 EPS. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. Equities analysts expect that StoneCo Ltd. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on STNE. Citigroup increased their price target on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. The Goldman Sachs Group upped their price target on StoneCo from $12.00 to $13.70 and gave the stock a “neutral” rating in a report on Friday, August 18th. HSBC raised StoneCo from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $15.00 in a report on Monday, June 12th. UBS Group raised StoneCo from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $18.00 in a report on Thursday, August 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 price objective on shares of StoneCo in a research note on Thursday, August 17th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.25.

About StoneCo

StoneCo Ltd. provides financial technology and software 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 sells solutions to brick-and-mortar and digital merchants through sales team.