Navellier & Associates Inc. Lowers Holdings in StoneCo Ltd. (NASDAQ:STNE)

Navellier & Associates Inc. trimmed its position in StoneCo Ltd. (NASDAQ:STNE) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,404 shares of the company’s stock after selling 2,095 shares during the period. Navellier & Associates Inc.’s holdings in StoneCo were worth $147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. grew its position in StoneCo by 36.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock valued at $128,617,000 after buying an additional 3,035,530 shares during the last quarter. State Street Corp grew its position in StoneCo by 51.0% in the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company’s stock valued at $89,765,000 after buying an additional 2,692,558 shares during the last quarter. Geode Capital Management LLC grew 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 valued at $58,302,000 after buying an additional 1,374,788 shares during the last quarter. Coronation Fund Managers Ltd. grew its position in StoneCo by 43.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company’s stock valued at $41,363,000 after buying an additional 1,111,065 shares during the last quarter. Finally, Truxt Investmentos Ltda. purchased a new position in StoneCo in the 3rd quarter valued at $31,695,000. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on STNE shares. Barclays lowered their price objective on shares of StoneCo from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Citigroup restated a “neutral” rating and set a $9.00 target price (down from $19.00) on shares of StoneCo in a research report on Thursday, January 16th. Susquehanna decreased their target price 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. The Goldman Sachs Group decreased their target price on shares of StoneCo from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.38.

StoneCo Trading Down 2.2 %

NASDAQ:STNE opened at $9.91 on Monday. The company has a market capitalization of $3.06 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 0.41 and a beta of 2.25. 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 52-week low of $7.72 and a 52-week high of $17.93. The stock has a fifty day simple moving average of $8.72 and a 200-day simple moving average of $10.46.

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.