Point72 Asset Management L.P. Buys 3,035,530 Shares of StoneCo Ltd. (NASDAQ:STNE)

Point72 Asset Management L.P. lifted its stake in StoneCo Ltd. (NASDAQ:STNE) by 36.2% during the third quarter, Holdings Channel reports. The fund owned 11,422,475 shares of the company’s stock after acquiring an additional 3,035,530 shares during the quarter. Point72 Asset Management L.P.’s holdings in StoneCo were worth $128,617,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Central Bank & Trust Co. bought a new stake in StoneCo during the second quarter valued at about $40,000. Y.D. More Investments Ltd boosted its stake in StoneCo by 90.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after purchasing an additional 2,275 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in StoneCo in the 3rd quarter valued at approximately $125,000. Point72 Hong Kong Ltd bought a new position in StoneCo in the 2nd quarter worth approximately $135,000. Finally, nVerses Capital LLC acquired a new position in shares of StoneCo during the second quarter worth approximately $137,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on STNE shares. UBS Group raised their price objective 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 restated an “underweight” rating and set a $7.00 price objective (down previously from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Susquehanna decreased their target price on 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 upgraded StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Barclays reduced their price objective on StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.89.

StoneCo Stock Performance

Shares of NASDAQ:STNE opened at $9.46 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. The business’s fifty day moving average price is $10.81 and its two-hundred day moving average price is $12.18. StoneCo Ltd. has a fifty-two week low of $9.06 and a fifty-two week high of $19.46. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 0.34 and a beta of 2.21.

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.