State Board of Administration of Florida Retirement System Decreases Holdings in StoneCo Ltd. (NASDAQ:STNE)

State Board of Administration of Florida Retirement System decreased its position in shares of StoneCo Ltd. (NASDAQ:STNEGet Rating) by 67.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,383 shares of the company’s stock after selling 163,130 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in StoneCo were worth $619,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of StoneCo by 2.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,578,416 shares of the company’s stock worth $73,754,000 after buying an additional 213,825 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of StoneCo by 2.3% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 9,578,416 shares of the company’s stock worth $72,317,000 after buying an additional 213,825 shares during the last quarter. Blackstone Inc. acquired a new stake in shares of StoneCo during the 1st quarter worth $51,661,000. MFN Partners Management LP increased its holdings in shares of StoneCo by 100.0% during the 1st quarter. MFN Partners Management LP now owns 4,000,000 shares of the company’s stock worth $46,800,000 after buying an additional 2,000,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of StoneCo by 951.6% during the 1st 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 last quarter. Hedge funds and other institutional investors own 59.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on STNE. The Goldman Sachs Group downgraded StoneCo from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $9.80 to $7.80 in a report on Tuesday, September 6th. Wells Fargo & Company increased their price target on StoneCo from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, StoneCo has a consensus rating of “Hold” and an average target price of $16.84.

StoneCo Price Performance

STNE opened at $11.53 on Friday. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -13.56 and a beta of 2.15. StoneCo Ltd. has a fifty-two week low of $6.81 and a fifty-two week high of $20.29. The company’s 50-day moving average price is $10.35 and its 200 day moving average price is $9.70. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.19.

StoneCo (NASDAQ:STNEGet Rating) last released its quarterly earnings data on Thursday, November 17th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $478.88 million for the quarter, compared to analyst estimates of $477.52 million. StoneCo had a negative net margin of 15.73% and a positive return on equity of 2.46%. As a group, sell-side analysts expect that StoneCo Ltd. will post 0.18 earnings per share for the current year.

StoneCo Company 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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