Allianz Asset Management GmbH increased its holdings in shares of StoneCo Ltd (NASDAQ:STNE) by 67.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,208 shares of the company’s stock after purchasing an additional 81,158 shares during the period. Allianz Asset Management GmbH owned 0.07% of StoneCo worth $5,981,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Focused Wealth Management Inc purchased a new position in StoneCo during the 2nd quarter worth $30,000. Parisi Gray Wealth Management purchased a new position in shares of StoneCo in the 1st quarter valued at about $102,000. BNP Paribas Arbitrage SA purchased a new position in shares of StoneCo in the 2nd quarter valued at about $125,000. Envestnet Asset Management Inc. purchased a new position in shares of StoneCo in the 2nd quarter valued at about $254,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of StoneCo in the 1st quarter valued at about $260,000. Hedge funds and other institutional investors own 43.19% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Bank of America reiterated a “buy” rating and issued a $42.00 price target on shares of StoneCo in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of StoneCo from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Goldman Sachs Group began coverage on shares of StoneCo in a research note on Monday, June 10th. They issued a “buy” rating and a $37.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $39.00 price objective (up from $33.00) on shares of StoneCo in a research note on Thursday, August 15th. Finally, Citigroup set a $27.00 price objective on shares of StoneCo and gave the company a “hold” rating in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. StoneCo currently has an average rating of “Hold” and an average price target of $35.89.
NASDAQ STNE opened at $32.79 on Friday. StoneCo Ltd has a one year low of $16.14 and a one year high of $45.62. The company’s 50 day moving average price is $33.11 and its 200 day moving average price is $31.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $8.61 billion and a price-to-earnings ratio of 99.36.
StoneCo Company Profile
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. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.
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