SPX Gestao de Recursos Ltda Decreases Holdings in StoneCo Ltd. (NASDAQ:STNE)

SPX Gestao de Recursos Ltda lessened its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 96.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,159 shares of the company’s stock after selling 1,628,091 shares during the quarter. SPX Gestao de Recursos Ltda’s holdings in StoneCo were worth $610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STNE. Synovus Financial Corp raised its stake in StoneCo by 100.0% in the third quarter. Synovus Financial Corp now owns 29,228 shares of the company’s stock valued at $329,000 after purchasing an additional 14,614 shares in the last quarter. Tidal Investments LLC purchased a new position in StoneCo in the 3rd quarter worth $567,000. Sanctuary Advisors LLC purchased a new position in StoneCo in the 3rd quarter worth $156,000. Invst LLC raised its position in StoneCo by 43.1% in the 3rd quarter. Invst LLC now owns 32,759 shares of the company’s stock worth $369,000 after purchasing an additional 9,867 shares during the period. Finally, Geode Capital Management LLC raised its position in StoneCo by 36.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company’s stock worth $58,302,000 after purchasing an additional 1,374,788 shares during the period. Institutional investors own 73.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STNE. Susquehanna decreased their price objective on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research report on Wednesday, November 13th. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. UBS Group upped 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 Thursday, August 29th. Morgan Stanley reissued an “underweight” rating and issued a $7.00 target price (down previously from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Finally, Barclays dropped their price objective on StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.75.

StoneCo Stock Performance

Shares of NASDAQ STNE remained flat at $8.97 during trading on Friday. The stock had a trading volume of 1,132,802 shares, compared to its average volume of 5,261,833. The company has a 50 day simple moving average of $10.54 and a 200 day simple moving average of $11.95. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo Ltd. has a 1 year low of $8.87 and a 1 year high of $19.46. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 7.01, a P/E/G ratio of 0.35 and a beta of 2.21.

StoneCo 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.