Hsbc Holdings PLC Has $2.30 Million Stock Position in StoneCo Ltd. $STNE

Hsbc Holdings PLC raised its holdings in StoneCo Ltd. (NASDAQ:STNE) by 286.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 163,065 shares of the company’s stock after acquiring an additional 120,883 shares during the period. Hsbc Holdings PLC’s holdings in StoneCo were worth $2,298,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in StoneCo by 11,473.3% in the 4th quarter. Blue Trust Inc. now owns 1,736 shares of the company’s stock worth $26,000 after purchasing an additional 1,721 shares in the last quarter. Kestra Advisory Services LLC bought a new position in StoneCo in the 4th quarter valued at approximately $28,000. Rockefeller Capital Management L.P. boosted its position in StoneCo by 74.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,199 shares of the company’s stock worth $33,000 after buying an additional 936 shares during the period. Ensign Peak Advisors Inc bought a new stake in StoneCo during the 4th quarter worth approximately $33,000. Finally, Torren Management LLC acquired a new position in StoneCo in the 4th quarter valued at approximately $35,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STNE. Citigroup downgraded shares of StoneCo from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $11.00 in a research note on Friday, May 15th. Weiss Ratings cut shares of StoneCo from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Jefferies Financial Group started coverage on StoneCo in a report on Thursday. They issued a “hold” rating and a $12.60 price objective for the company. BTIG Research lowered their target price on StoneCo from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Finally, Bank of America downgraded StoneCo from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, StoneCo has a consensus rating of “Hold” and an average price target of $14.59.

StoneCo Price Performance

Shares of STNE opened at $10.76 on Friday. The firm has a market cap of $2.68 billion, a PE ratio of 4.30, a price-to-earnings-growth ratio of 0.32 and a beta of 1.73. StoneCo Ltd. has a 52-week low of $9.45 and a 52-week high of $19.95. The business’s 50 day moving average price is $10.96 and its two-hundred day moving average price is $13.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.33 and a current ratio of 1.33.

StoneCo (NASDAQ:STNE) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. StoneCo had a net margin of 23.82% and a return on equity of 21.05%. The company had revenue of $141.16 million during the quarter, compared to analyst estimates of $675.11 million. On average, equities analysts anticipate that StoneCo Ltd. will post 2.27 EPS for the current year.

Insiders Place Their Bets

In other news, Director Silvio Jose Morais sold 9,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.29, for a total transaction of $101,610.00. Following the transaction, the director owned 21,000 shares in the company, valued at approximately $237,090. This represents a 30.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.25% of the company’s stock.

StoneCo Company Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.