Arrowstreet Capital Limited Partnership Acquires Shares of 746,876 StoneCo Ltd. $STNE

Arrowstreet Capital Limited Partnership purchased a new position in StoneCo Ltd. (NASDAQ:STNE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 746,876 shares of the company’s stock, valued at approximately $11,980,000. Arrowstreet Capital Limited Partnership owned approximately 0.26% of StoneCo as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tekne Capital Management LLC bought a new position in shares of StoneCo in the 2nd quarter worth about $35,288,000. Schroder Investment Management Group acquired a new stake in StoneCo during the second quarter worth about $1,672,000. Neuberger Berman Group LLC lifted its holdings in StoneCo by 6.6% in the second quarter. Neuberger Berman Group LLC now owns 18,399 shares of the company’s stock worth $295,000 after acquiring an additional 1,140 shares during the last quarter. Norges Bank acquired a new position in StoneCo in the second quarter valued at approximately $44,366,000. Finally, Inceptionr LLC acquired a new position in StoneCo in the second quarter valued at approximately $212,000. Institutional investors and hedge funds own 73.19% of the company’s stock.

StoneCo Price Performance

Shares of NASDAQ:STNE opened at $14.62 on Wednesday. The company’s fifty day moving average is $17.29 and its two-hundred day moving average is $16.10. The company has a market cap of $4.18 billion, a P/E ratio of -27.07, a price-to-earnings-growth ratio of 0.29 and a beta of 1.85. StoneCo Ltd. has a 12-month low of $7.72 and a 12-month high of $19.95. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.72.

StoneCo (NASDAQ:STNE) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $669.49 million for the quarter, compared to analysts’ expectations of $669.81 million. StoneCo had a negative net margin of 7.28% and a positive return on equity of 20.18%. Equities analysts expect that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group raised their target price on StoneCo from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, August 29th. The Goldman Sachs Group boosted their target price on shares of StoneCo from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Zacks Research raised shares of StoneCo to a “strong-buy” rating in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of StoneCo from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StoneCo in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.21.

StoneCo Company Profile

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.