Bank of New York Mellon Corp increased its holdings in StoneCo Ltd (NASDAQ:STNE) by 602.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 342,450 shares of the company’s stock after buying an additional 293,730 shares during the period. Bank of New York Mellon Corp’s holdings in StoneCo were worth $13,274,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC boosted its stake in StoneCo by 180.0% during the 2nd quarter. CWM LLC now owns 700 shares of the company’s stock valued at $27,000 after purchasing an additional 450 shares during the period. Asset Management One Co. Ltd. acquired a new position in StoneCo during the 1st quarter valued at about $30,000. Harbor Investment Advisory LLC boosted its stake in StoneCo by 133.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 905 shares of the company’s stock valued at $35,000 after purchasing an additional 518 shares during the period. American Beacon Advisors Inc. acquired a new position in StoneCo during the 1st quarter valued at about $38,000. Finally, Pinz Capital Management LP acquired a new position in StoneCo during the 1st quarter valued at about $47,000. 49.56% of the stock is owned by institutional investors and hedge funds.

STNE has been the subject of a number of analyst reports. Citigroup initiated coverage on shares of StoneCo in a research note on Friday, August 14th. They set a “buy” rating and a $58.00 target price for the company. Guggenheim boosted their price target on shares of StoneCo from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Evercore ISI upgraded shares of StoneCo from an “in-line” rating to an “outperform” rating in a research report on Thursday, August 13th. Bradesco Corretora downgraded shares of StoneCo from a “neutral” rating to an “underperform” rating and set a $42.00 price target on the stock. in a research report on Wednesday, August 12th. Finally, BidaskClub upgraded shares of StoneCo from a “hold” rating to a “buy” rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. StoneCo presently has an average rating of “Hold” and an average price target of $45.82.

Shares of StoneCo stock opened at $53.72 on Wednesday. The stock has a market cap of $14.90 billion, a PE ratio of 86.65 and a beta of 2.35. The business has a fifty day simple moving average of $49.58 and a 200-day simple moving average of $36.18. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. StoneCo Ltd has a 12 month low of $17.72 and a 12 month high of $55.00.

StoneCo (NASDAQ:STNE) last issued its earnings results on Wednesday, August 12th. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.10. StoneCo had a return on equity of 12.30% and a net margin of 26.52%. Analysts expect that StoneCo Ltd will post 0.53 EPS for the current fiscal year.

About StoneCo

StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.

Read More: Mutual Funds

Want to see what other hedge funds are holding STNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for StoneCo Ltd (NASDAQ:STNE).

Institutional Ownership by Quarter for StoneCo (NASDAQ:STNE)

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.