Belpointe Asset Management LLC Makes New $49,000 Investment in StoneCo Ltd. (NASDAQ:STNE)

Belpointe Asset Management LLC purchased a new position in shares of StoneCo Ltd. (NASDAQ:STNE – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,200 shares of the company’s stock, valued at approximately $49,000.

Several other hedge funds have also recently modified their holdings of STNE. Envestnet Asset Management Inc. acquired a new position in shares of StoneCo during the 1st quarter worth about $122,000. Advisor Group Holdings Inc. raised its position in shares of StoneCo by 10.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 35,254 shares of the company’s stock worth $417,000 after purchasing an additional 3,240 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of StoneCo by 190.2% during the 1st quarter. JPMorgan Chase & Co. now owns 882,709 shares of the company’s stock worth $10,328,000 after purchasing an additional 578,488 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of StoneCo during the 1st quarter worth about $128,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of StoneCo during the 1st quarter worth about $167,000. Institutional investors and hedge funds own 59.80% of the company’s stock.

StoneCo Stock Performance

StoneCo stock opened at $13.27 on Wednesday. The firm has a 50 day simple moving average of $11.26 and a 200-day simple moving average of $10.39. StoneCo Ltd. has a 1-year low of $7.20 and a 1-year high of $14.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of -1,327.00, a price-to-earnings-growth ratio of 0.47 and a beta of 2.24.

StoneCo (NASDAQ:STNE – Get Rating) last posted its quarterly earnings results on Tuesday, March 14th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. StoneCo had a negative net margin of 0.19% and a positive return on equity of 4.62%. The business had revenue of $514.25 million during the quarter, compared to analysts’ expectations of $383.41 million. On average, analysts expect that StoneCo Ltd. will post 0.52 EPS for the current year.

Analyst Ratings Changes

STNE has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of StoneCo from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 15th. Evercore ISI increased their price objective on shares of StoneCo from $16.00 to $19.00 in a report on Thursday, May 18th. Morgan Stanley increased their price objective on shares of StoneCo from $15.00 to $17.00 in a report on Tuesday, April 11th. Citigroup increased their price objective on shares of StoneCo from $13.00 to $17.00 in a report on Sunday. Finally, Susquehanna increased their price objective on shares of StoneCo from $17.00 to $20.00 in a report on Thursday, May 18th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

StoneCo Profile

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StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. The firm offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.