Financial Perspectives Inc Boosts Stock Position in StoneCo Ltd. (NASDAQ:STNE)

Financial Perspectives Inc lifted its stake in shares of StoneCo Ltd. (NASDAQ:STNE) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,019 shares of the company’s stock after acquiring an additional 1,083 shares during the quarter. Financial Perspectives Inc’s holdings in StoneCo were worth $168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STNE. UBS Group AG lifted its position in shares of StoneCo by 14.5% in the fourth quarter. UBS Group AG now owns 2,001,221 shares of the company’s stock valued at $36,082,000 after acquiring an additional 253,276 shares in the last quarter. Quadrature Capital Ltd bought a new position in StoneCo in the 4th quarter worth approximately $2,008,000. Norges Bank purchased a new stake in StoneCo during the 4th quarter valued at approximately $58,777,000. Lord Abbett & CO. LLC bought a new stake in shares of StoneCo during the first quarter valued at approximately $33,139,000. Finally, Vanguard Group Inc. lifted its holdings in shares of StoneCo by 3.5% in the first quarter. Vanguard Group Inc. now owns 2,636,619 shares of the company’s stock worth $43,794,000 after buying an additional 88,256 shares in the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Stock Up 2.9 %

Shares of STNE opened at $12.24 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $13.08 and a 200 day moving average of $14.35. The company has a market cap of $3.78 billion, a PE ratio of 11.03, a P/E/G ratio of 0.43 and a beta of 2.31. StoneCo Ltd. has a 52-week low of $9.34 and a 52-week high of $19.46.

StoneCo (NASDAQ:STNE) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). StoneCo had a return on equity of 13.21% and a net margin of 15.27%. The firm had revenue of $615.13 million for the quarter, compared to analysts’ expectations of $590.74 million. On average, sell-side analysts expect that StoneCo Ltd. will post 1.1 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group raised their target price on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Thursday, June 6th. Morgan Stanley reiterated an “underweight” rating and issued a $7.00 target price (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Evercore ISI cut their price target on StoneCo from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, Barclays decreased their price objective on StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, StoneCo presently has a consensus rating of “Moderate Buy” and an average target price of $17.80.

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.