StoneCo (NASDAQ:STNE) Stock Price Down 4.4% – Here’s What Happened

StoneCo Ltd. (NASDAQ:STNE)’s share price fell 4.4% during trading on Tuesday . The company traded as low as $10.79 and last traded at $10.84. 1,716,985 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 5,073,218 shares. The stock had previously closed at $11.34.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on STNE shares. Morgan Stanley reaffirmed an “underweight” rating and issued a $7.00 target price (down previously from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Barclays lowered their target price on StoneCo from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Finally, UBS Group lifted their target price on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, StoneCo presently has an average rating of “Moderate Buy” and an average price target of $17.70.

StoneCo Trading Down 2.7 %

The business has a 50-day simple moving average of $11.60 and a two-hundred day simple moving average of $13.01. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 8.89, a P/E/G ratio of 0.39 and a beta of 2.29. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.36 and a quick ratio of 1.36.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). The business had revenue of $615.13 million for the quarter, compared to analyst estimates of $590.74 million. StoneCo had a return on equity of 13.21% and a net margin of 15.27%. Equities analysts forecast that StoneCo Ltd. will post 1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On StoneCo

A number of institutional investors have recently made changes to their positions in the company. Financial Perspectives Inc boosted its holdings in shares of StoneCo by 8.4% during the second quarter. Financial Perspectives Inc now owns 14,019 shares of the company’s stock worth $168,000 after acquiring an additional 1,083 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of StoneCo by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 123,275 shares of the company’s stock worth $1,478,000 after acquiring an additional 1,848 shares during the period. Stokes Family Office LLC boosted its holdings in shares of StoneCo by 16.8% during the first quarter. Stokes Family Office LLC now owns 14,600 shares of the company’s stock worth $243,000 after acquiring an additional 2,100 shares during the period. Y.D. More Investments Ltd boosted its holdings in shares of StoneCo by 90.2% during the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after acquiring an additional 2,275 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of StoneCo during the first quarter worth approximately $41,000. Institutional investors own 73.19% of the company’s stock.

About StoneCo

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.