Alta Wealth Advisors LLC Buys New Position in StoneCo Ltd. $STNE

Alta Wealth Advisors LLC purchased a new position in StoneCo Ltd. (NASDAQ:STNE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 86,258 shares of the company’s stock, valued at approximately $1,631,000.

Several other large investors have also added to or reduced their stakes in STNE. Vanguard Personalized Indexing Management LLC increased its position in StoneCo by 12.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,540 shares of the company’s stock valued at $256,000 after purchasing an additional 1,478 shares during the period. Strs Ohio lifted its position in shares of StoneCo by 200.0% in the 3rd quarter. Strs Ohio now owns 45,600 shares of the company’s stock worth $862,000 after purchasing an additional 30,400 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of StoneCo by 64.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,943 shares of the company’s stock valued at $56,000 after purchasing an additional 1,151 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of StoneCo during the third quarter valued at about $1,241,000. Finally, Bayforest Capital Ltd raised its stake in StoneCo by 53.9% in the third quarter. Bayforest Capital Ltd now owns 30,384 shares of the company’s stock worth $575,000 after buying an additional 10,645 shares in the last quarter. Institutional investors own 73.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on STNE shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StoneCo in a research report on Thursday. Zacks Research cut StoneCo from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group lifted their price target on StoneCo from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Finally, Wall Street Zen downgraded StoneCo from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, StoneCo currently has a consensus rating of “Hold” and a consensus target price of $17.21.

StoneCo Trading Up 1.8%

StoneCo stock opened at $16.28 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.72. The business’s fifty day simple moving average is $15.11 and its two-hundred day simple moving average is $16.13. StoneCo Ltd. has a 12 month low of $8.64 and a 12 month high of $19.95. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -30.15, a price-to-earnings-growth ratio of 0.28 and a beta of 1.83.

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

StoneCo Company Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.