StoneCo (NASDAQ:STNE) Stock Price Down 8.5%

StoneCo Ltd. (NASDAQ:STNEGet Rating) shares traded down 8.5% on Wednesday . The stock traded as low as $10.26 and last traded at $10.28. 42,904 shares changed hands during trading, a decline of 99% from the average session volume of 6,808,689 shares. The stock had previously closed at $11.24.

Wall Street Analysts Forecast Growth

STNE has been the topic of a number of analyst reports. The Goldman Sachs Group cut StoneCo from a “neutral” rating to a “sell” rating and dropped their target price for the company from $9.80 to $7.80 in a research report on Tuesday, September 6th. Wells Fargo & Company lifted their price objective on StoneCo from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, November 18th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.83.

StoneCo Trading Down 7.1 %

The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $10.46 and its two-hundred day simple moving average is $9.75.

StoneCo (NASDAQ:STNEGet Rating) last posted its quarterly earnings results on Thursday, November 17th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $478.88 million for the quarter, compared to the consensus estimate of $477.52 million. StoneCo had a negative net margin of 15.73% and a positive return on equity of 2.49%. Equities analysts anticipate that StoneCo Ltd. will post 0.18 EPS for the current year.

Institutional Trading of StoneCo

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of StoneCo by 27.8% during the 3rd quarter. BlackRock Inc. now owns 21,451,911 shares of the company’s stock worth $204,437,000 after buying an additional 4,666,575 shares in the last quarter. Truxt Investmentos Ltda. purchased a new position in StoneCo during the third quarter valued at approximately $44,121,000. Blackstone Inc. acquired a new stake in StoneCo in the first quarter valued at approximately $51,661,000. Polunin Capital Partners Ltd acquired a new stake in StoneCo in the third quarter valued at approximately $33,766,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in StoneCo by 951.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,788,600 shares of the company’s stock valued at $44,327,000 after acquiring an additional 3,428,320 shares during the last quarter. 59.69% of the stock is currently owned by institutional investors.

About StoneCo

(Get Rating)

StoneCo Ltd. provides financial technology 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 technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.

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