Verition Fund Management LLC Boosts Holdings in StoneCo Ltd. (NASDAQ:STNE)

Verition Fund Management LLC grew its position in shares of StoneCo Ltd. (NASDAQ:STNEGet Rating) by 575.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,840 shares of the company’s stock after purchasing an additional 77,389 shares during the period. Verition Fund Management LLC’s holdings in StoneCo were worth $1,063,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. National Bank of Canada FI increased its stake in shares of StoneCo by 75.8% in the first quarter. National Bank of Canada FI now owns 3,480 shares of the company’s stock worth $41,000 after buying an additional 1,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of StoneCo in the first quarter worth $60,000. AdvisorNet Financial Inc bought a new stake in shares of StoneCo in the first quarter worth $66,000. Captrust Financial Advisors increased its stake in shares of StoneCo by 281.5% in the first quarter. Captrust Financial Advisors now owns 6,268 shares of the company’s stock worth $73,000 after buying an additional 4,625 shares during the last quarter. Finally, Eaton Vance Management increased its stake in shares of StoneCo by 1,964.2% in the fourth quarter. Eaton Vance Management now owns 7,679 shares of the company’s stock worth $96,000 after buying an additional 7,307 shares during the last quarter. Hedge funds and other institutional investors own 59.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on STNE shares. Susquehanna decreased their price objective on shares of StoneCo from $28.00 to $20.00 in a report on Monday, July 11th. Wells Fargo & Company decreased their price objective on shares of StoneCo from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, September 8th. Susquehanna Bancshares decreased their price objective on shares of StoneCo from $28.00 to $20.00 in a report on Monday, July 11th. Finally, The Goldman Sachs Group downgraded shares of StoneCo from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $9.80 to $7.80 in a report on Tuesday, September 6th. Four equities 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.63.

StoneCo Stock Performance

Shares of STNE opened at $9.68 on Wednesday. StoneCo Ltd. has a 1 year low of $6.81 and a 1 year high of $41.18. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -5.53 and a beta of 2.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day moving average of $9.78 and a 200-day moving average of $9.82.

StoneCo (NASDAQ:STNEGet Rating) last announced its quarterly earnings results on Thursday, August 18th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.20 billion. StoneCo had a negative net margin of 36.63% and a negative return on equity of 7.68%. The company’s revenue for the quarter was up 275.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. As a group, equities analysts anticipate that StoneCo Ltd. will post 0.2 earnings per share for the current year.

StoneCo Profile

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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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Institutional Ownership by Quarter for StoneCo (NASDAQ:STNE)

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