Raymond James Financial Services Advisors Inc. increased its stake in StoneCo Ltd. (NASDAQ:STNE – Free Report) by 14.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,037 shares of the company’s stock after purchasing an additional 5,160 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in StoneCo were worth $536,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. 1832 Asset Management L.P. acquired a new stake in StoneCo in the 4th quarter valued at approximately $25,000. National Bank of Canada FI grew its holdings in shares of StoneCo by 68.8% in the 1st quarter. National Bank of Canada FI now owns 3,680 shares of the company’s stock worth $35,000 after acquiring an additional 1,500 shares during the last quarter. CWM LLC grew its holdings in shares of StoneCo by 133.5% in the 1st quarter. CWM LLC now owns 4,578 shares of the company’s stock worth $44,000 after acquiring an additional 2,617 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of StoneCo in the first quarter worth $46,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of StoneCo in the second quarter worth $49,000. Institutional investors own 77.54% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on STNE shares. JPMorgan Chase & Co. lifted their price objective on StoneCo from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, August 22nd. UBS Group upgraded StoneCo from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $18.00 in a research note on Thursday, August 3rd. Evercore ISI lifted their price objective on StoneCo from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, August 17th. Citigroup lifted their price objective on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 target price on shares of StoneCo in a report on Thursday, August 17th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, StoneCo currently has a consensus rating of “Hold” and a consensus price target of $16.09.
StoneCo Stock Up 1.9 %
NASDAQ:STNE opened at $9.92 on Wednesday. The stock’s fifty day moving average price is $10.85 and its two-hundred day moving average price is $12.19. StoneCo Ltd. has a 52-week low of $8.09 and a 52-week high of $14.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 0.22 and a beta of 2.24.
StoneCo (NASDAQ:STNE – Get Free Report) last issued its earnings results on Wednesday, August 16th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.86 by $0.08. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. StoneCo had a net margin of 7.51% and a return on equity of 6.66%. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. On average, analysts anticipate that StoneCo Ltd. will post 0.79 EPS for the current year.
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.
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