Envestnet Asset Management Inc. Makes New $9.83 Million Investment in StoneCo Ltd. $STNE

Envestnet Asset Management Inc. purchased a new stake in StoneCo Ltd. (NASDAQ:STNE) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 612,531 shares of the company’s stock, valued at approximately $9,825,000.

Several other institutional investors and hedge funds also recently modified their holdings of STNE. Richardson Financial Services Inc. bought a new position in shares of StoneCo during the second quarter worth about $29,000. CWM LLC boosted its position in StoneCo by 327.4% during the 1st quarter. CWM LLC now owns 3,154 shares of the company’s stock worth $33,000 after acquiring an additional 2,416 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of StoneCo by 334.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,598 shares of the company’s stock worth $42,000 after acquiring an additional 2,000 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of StoneCo in the first quarter valued at approximately $58,000. Finally, GAMMA Investing LLC raised its holdings in shares of StoneCo by 43.6% in the second quarter. GAMMA Investing LLC now owns 4,170 shares of the company’s stock valued at $67,000 after purchasing an additional 1,267 shares during the last quarter. 73.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of StoneCo to a “strong-buy” rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on StoneCo from $15.50 to $18.50 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Wall Street Zen lowered StoneCo from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of StoneCo in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their price target on StoneCo from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

StoneCo Stock Down 10.8%

STNE opened at $16.83 on Monday. The stock’s fifty day simple moving average is $18.23 and its 200 day simple moving average is $15.72. StoneCo Ltd. has a 1-year low of $7.72 and a 1-year high of $19.95. The stock has a market cap of $4.81 billion, a PE ratio of -31.17, a price-to-earnings-growth ratio of 0.33 and a beta of 2.01. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.76.

StoneCo (NASDAQ:STNE) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $669.49 million for the quarter, compared to the consensus estimate of $669.81 million. StoneCo had a negative net margin of 7.28% and a positive return on equity of 20.42%. As a group, research analysts expect that StoneCo Ltd. will post 1.16 earnings per share for the current year.

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.