Assenagon Asset Management S.A. Makes New $2.82 Million Investment in StoneCo Ltd. (NASDAQ:STNE)

Assenagon Asset Management S.A. bought a new position in StoneCo Ltd. (NASDAQ:STNEFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 156,617 shares of the company’s stock, valued at approximately $2,824,000.

A number of other large investors have also added to or reduced their stakes in STNE. 1832 Asset Management L.P. bought a new stake in StoneCo in the 4th quarter worth approximately $25,000. Quarry LP bought a new stake in StoneCo in the 2nd quarter worth approximately $38,000. Tucker Asset Management LLC bought a new stake in StoneCo in the 3rd quarter worth approximately $60,000. Belpointe Asset Management LLC grew its position in StoneCo by 28.8% in the 1st quarter. Belpointe Asset Management LLC now owns 6,700 shares of the company’s stock worth $64,000 after purchasing an additional 1,500 shares during the period. Finally, Captrust Financial Advisors grew its position in StoneCo by 281.5% in the 1st quarter. Captrust Financial Advisors now owns 6,268 shares of the company’s stock worth $73,000 after purchasing an additional 4,625 shares during the period. Institutional investors own 73.19% of the company’s stock.

StoneCo Stock Down 0.5 %

STNE opened at $16.24 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 16.08 and a beta of 2.35. The firm’s fifty day moving average is $17.08 and its 200 day moving average is $14.88. StoneCo Ltd. has a fifty-two week low of $8.73 and a fifty-two week high of $19.46.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on STNE shares. UBS Group cut shares of StoneCo from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Barclays lifted their price target on shares of StoneCo from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Citigroup lifted their price target on shares of StoneCo from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group upgraded shares of StoneCo from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $21.00 in a research note on Monday, January 22nd. Finally, Bank of America lifted 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 Monday, December 11th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, StoneCo currently has an average rating of “Moderate Buy” and a consensus target price of $18.64.

Get Our Latest Analysis on STNE

StoneCo Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for StoneCo (NASDAQ:STNE)

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