StoneCo Ltd. (NASDAQ:STNE) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. cut its position in StoneCo Ltd. (NASDAQ:STNE) by 51.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,793,497 shares of the company’s stock after selling 1,879,962 shares during the period. Coronation Fund Managers Ltd.’s holdings in StoneCo were worth $14,294,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in STNE. Point72 Asset Management L.P. boosted its stake in StoneCo by 36.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock worth $128,617,000 after purchasing an additional 3,035,530 shares during the last quarter. Truxt Investmentos Ltda. purchased a new position in shares of StoneCo in the third quarter worth about $31,695,000. State Street Corp boosted its position in StoneCo by 51.0% during the third quarter. State Street Corp now owns 7,972,037 shares of the company’s stock worth $89,765,000 after acquiring an additional 2,692,558 shares during the last quarter. Geode Capital Management LLC grew its stake in StoneCo by 36.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company’s stock valued at $58,302,000 after acquiring an additional 1,374,788 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in StoneCo by 327.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,580,679 shares of the company’s stock valued at $17,798,000 after acquiring an additional 1,210,817 shares during the last quarter. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

StoneCo Trading Down 0.9 %

NASDAQ STNE opened at $9.14 on Monday. 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 stock has a market capitalization of $2.82 billion, a P/E ratio of 7.14, a PEG ratio of 0.37 and a beta of 2.25. The firm’s 50-day moving average is $8.63 and its two-hundred day moving average is $10.68. StoneCo Ltd. has a 12 month low of $7.72 and a 12 month high of $19.46.

Wall Street Analysts Forecast Growth

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

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.