StoneCo Ltd. (NASDAQ:STNE – Get 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.
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.
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.
- Get a free copy of the StockNews.com research report on StoneCo (STNE)
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