Geneos Wealth Management Inc. Trims Stock Position in StoneCo Ltd. (NASDAQ:STNE)

Geneos Wealth Management Inc. cut its stake in shares of StoneCo Ltd. (NASDAQ:STNE) by 68.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,625 shares of the company’s stock after selling 7,900 shares during the period. Geneos Wealth Management Inc.’s holdings in StoneCo were worth $65,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. purchased a new stake in StoneCo during the 4th quarter valued at approximately $25,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of StoneCo during the 4th quarter worth approximately $26,000. Quarry LP purchased a new position in shares of StoneCo during the 2nd quarter worth approximately $38,000. Tucker Asset Management LLC purchased a new position in shares of StoneCo during the 3rd quarter worth approximately $60,000. Finally, Belpointe Asset Management LLC raised its stake in shares of StoneCo by 28.8% during the 1st quarter. Belpointe Asset Management LLC now owns 6,700 shares of the company’s stock worth $64,000 after buying an additional 1,500 shares in the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Price Performance

STNE stock opened at $15.29 on Wednesday. StoneCo Ltd. has a 52-week low of $9.34 and a 52-week high of $19.46. The stock’s fifty day simple moving average is $16.81 and its 200-day simple moving average is $15.30. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 15.14 and a beta of 2.34.

StoneCo (NASDAQ:STNE) last posted its quarterly earnings data on Monday, March 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. StoneCo had a return on equity of 11.23% and a net margin of 13.35%. The business had revenue of $655.87 million for the quarter, compared to analysts’ expectations of $468.47 million. Equities research analysts expect that StoneCo Ltd. will post 1.3 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on STNE shares. Citigroup increased their target price on StoneCo from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Barclays increased their target price on StoneCo from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. UBS Group downgraded StoneCo from a “buy” rating to a “neutral” rating and increased their target price for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Finally, The Goldman Sachs Group raised StoneCo from a “neutral” rating to a “buy” rating and increased their target price for the stock from $12.00 to $21.00 in a research note on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.80.

About StoneCo

StoneCo Ltd. provides financial technology and software 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 sells solutions to brick-and-mortar and digital merchants through sales team.