Financial Perspectives Inc Buys 1,083 Shares of StoneCo Ltd. (NASDAQ:STNE)

Financial Perspectives Inc grew its stake in shares of StoneCo Ltd. (NASDAQ:STNE) by 8.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,019 shares of the company’s stock after acquiring an additional 1,083 shares during the period. Financial Perspectives Inc’s holdings in StoneCo were worth $168,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Polunin Capital Partners Ltd raised its holdings in shares of StoneCo by 10.5% in the 1st quarter. Polunin Capital Partners Ltd now owns 3,681,947 shares of the company’s stock valued at $61,157,000 after purchasing an additional 350,656 shares in the last quarter. Norges Bank bought a new position in StoneCo in the fourth quarter worth approximately $58,777,000. Coronation Fund Managers Ltd. raised its stake in StoneCo by 16.0% in the second quarter. Coronation Fund Managers Ltd. now owns 2,841,696 shares of the company’s stock worth $34,072,000 after buying an additional 392,958 shares in the last quarter. Vanguard Group Inc. lifted its holdings in StoneCo by 3.5% during the first quarter. Vanguard Group Inc. now owns 2,636,619 shares of the company’s stock worth $43,794,000 after buying an additional 88,256 shares during the period. Finally, Constellation Investimentos e Participacoes Ltda boosted its position in StoneCo by 57.6% during the 2nd quarter. Constellation Investimentos e Participacoes Ltda now owns 2,344,327 shares of the company’s stock valued at $28,108,000 after acquiring an additional 856,552 shares in the last quarter. Hedge funds and other institutional investors own 73.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STNE has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on StoneCo from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Evercore ISI decreased their price target on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Morgan Stanley reaffirmed an “underweight” rating and issued a $7.00 price objective (down previously from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Thursday, June 6th. Finally, Barclays cut their price target on shares of StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, StoneCo currently has an average rating of “Moderate Buy” and an average target price of $17.80.

StoneCo Trading Up 2.9 %

NASDAQ STNE opened at $12.24 on Monday. StoneCo Ltd. has a 12-month low of $9.34 and a 12-month high of $19.46. The company has a fifty day simple moving average of $13.08 and a two-hundred day simple moving average of $14.35. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.41. The stock has a market cap of $3.78 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.43 and a beta of 2.31.

StoneCo (NASDAQ:STNE) last issued its earnings results on Wednesday, August 14th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). StoneCo had a return on equity of 13.21% and a net margin of 15.27%. The firm had revenue of $615.13 million during the quarter, compared to analysts’ expectations of $590.74 million. On average, analysts forecast that StoneCo Ltd. will post 1.1 earnings per share for the current year.

StoneCo Company Profile

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.