StoneCo Ltd. (NASDAQ:STNE – Get Rating)’s share price was up 6.1% on Wednesday . The company traded as high as $10.29 and last traded at $10.27. Approximately 584,241 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 5,125,351 shares. The stock had previously closed at $9.68.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on STNE shares. Susquehanna reduced their price objective on shares of StoneCo from $28.00 to $20.00 in a research report on Monday, July 11th. Susquehanna Bancshares reduced their target price on shares of StoneCo from $28.00 to $20.00 in a research report on Monday, July 11th. Wells Fargo & Company reduced their target price on shares of StoneCo from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 8th. Finally, The Goldman Sachs Group lowered shares of StoneCo from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $9.80 to $7.80 in a research report on Tuesday, September 6th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, StoneCo presently has an average rating of “Hold” and an average price target of $16.63.
StoneCo Price Performance
The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.19. The company’s 50 day simple moving average is $9.84 and its two-hundred day simple moving average is $9.83.
Institutional Investors Weigh In On StoneCo
Institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of StoneCo during the first quarter worth $109,566,000. Blackstone Inc. acquired a new stake in shares of StoneCo during the first quarter worth $51,661,000. Kora Management LP lifted its stake in shares of StoneCo by 329.1% during the fourth quarter. Kora Management LP now owns 4,686,000 shares of the company’s stock worth $79,006,000 after buying an additional 3,594,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of StoneCo by 951.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,788,600 shares of the company’s stock worth $44,327,000 after buying an additional 3,428,320 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of StoneCo during the first quarter worth $35,504,000. 59.69% of the stock is currently owned by institutional investors and hedge funds.
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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