Penserra Capital Management LLC Boosts Stock Position in StoneCo Ltd. $STNE

Penserra Capital Management LLC raised its holdings in StoneCo Ltd. (NASDAQ:STNE) by 24.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 392,710 shares of the company’s stock after purchasing an additional 76,650 shares during the period. Penserra Capital Management LLC owned about 0.14% of StoneCo worth $7,425,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in STNE. Richardson Financial Services Inc. bought a new stake in shares of StoneCo in the second quarter worth $29,000. USA Financial Formulas acquired a new position in StoneCo during the 3rd quarter worth $55,000. TD Waterhouse Canada Inc. bought a new stake in shares of StoneCo in the 3rd quarter worth about $55,000. Farther Finance Advisors LLC increased its position in shares of StoneCo by 47.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,839 shares of the company’s stock worth $73,000 after purchasing an additional 1,241 shares during the last quarter. Finally, CWM LLC lifted its position in shares of StoneCo by 44.7% during the second quarter. CWM LLC now owns 4,565 shares of the company’s stock worth $73,000 after purchasing an additional 1,411 shares during the last quarter. Institutional investors and hedge funds own 73.19% of the company’s stock.

StoneCo Stock Down 0.9%

StoneCo stock opened at $16.19 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.43 and a current ratio of 1.43. StoneCo Ltd. has a one year low of $8.64 and a one year high of $19.95. The company has a 50-day simple moving average of $15.29 and a 200-day simple moving average of $16.21. The firm has a market capitalization of $4.63 billion, a P/E ratio of -29.98, a P/E/G ratio of 0.29 and a beta of 1.81.

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

Analyst Ratings Changes

STNE has been the subject of several research analyst reports. UBS Group lowered their price objective on StoneCo from $20.00 to $19.50 and set a “buy” rating for the company in a report on Wednesday, January 28th. Wall Street Zen lowered StoneCo from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Zacks Research lowered StoneCo from a “hold” rating to a “strong sell” rating in a research report on Monday. Santander cut StoneCo from an “outperform” rating to a “neutral” rating in a research note on Thursday, January 29th. Finally, The Goldman Sachs Group lowered their target price on shares of StoneCo from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.86.

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.