StoneCo (NASDAQ:STNE) Shares Up 3%

StoneCo Ltd. (NASDAQ:STNEGet Free Report)’s stock price traded up 3% during trading on Tuesday . The company traded as high as $16.87 and last traded at $16.81. 1,621,619 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 5,215,016 shares. The stock had previously closed at $16.32.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STNE. Barclays increased their price target on StoneCo from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Bank of America increased their price objective on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, December 11th. The Goldman Sachs Group raised StoneCo from a “neutral” rating to a “buy” rating and increased their price objective for the company from $12.00 to $21.00 in a research report on Monday, January 22nd. Citigroup increased their price objective on StoneCo from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, UBS Group cut StoneCo from a “buy” rating to a “neutral” rating and increased their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.64.

Get Our Latest Research Report on StoneCo

StoneCo Stock Performance

The stock has a market capitalization of $5.13 billion, a P/E ratio of 16.16 and a beta of 2.34. The firm has a 50-day moving average of $17.05 and a 200 day moving average of $14.89. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pearl River Capital LLC lifted its holdings in shares of StoneCo by 149.6% during the third quarter. Pearl River Capital LLC now owns 145,045 shares of the company’s stock valued at $1,548,000 after acquiring an additional 86,924 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of StoneCo by 72.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,969,463 shares of the company’s stock valued at $31,684,000 after acquiring an additional 1,249,463 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of StoneCo by 103.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,234,520 shares of the company’s stock valued at $13,172,000 after buying an additional 628,698 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of StoneCo by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,147,544 shares of the company’s stock valued at $12,244,000 after buying an additional 24,598 shares in the last quarter. Finally, JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of StoneCo in the third quarter valued at $16,603,000. 73.19% of the stock is owned by institutional investors.

About StoneCo

(Get Free Report)

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.

Further Reading

Receive News & Ratings for StoneCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StoneCo and related companies with MarketBeat.com's FREE daily email newsletter.