Slate Path Capital LP lifted its holdings in StoneCo Ltd. (NASDAQ:STNE – Free Report) by 121.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,081,000 shares of the company’s stock after purchasing an additional 1,141,000 shares during the period. StoneCo makes up 0.9% of Slate Path Capital LP’s holdings, making the stock its 24th biggest holding. Slate Path Capital LP owned approximately 0.67% of StoneCo worth $19,853,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. acquired a new position in shares of StoneCo in the first quarter worth $122,000. Advisor Group Holdings Inc. boosted its holdings in StoneCo by 10.1% in the first quarter. Advisor Group Holdings Inc. now owns 35,254 shares of the company’s stock valued at $417,000 after purchasing an additional 3,240 shares in the last quarter. JPMorgan Chase & Co. increased its stake in StoneCo by 190.2% in the first quarter. JPMorgan Chase & Co. now owns 882,709 shares of the company’s stock valued at $10,328,000 after purchasing an additional 578,488 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in StoneCo during the first quarter worth approximately $128,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of StoneCo during the 1st quarter worth approximately $167,000. 77.54% of the stock is owned by hedge funds and other institutional investors.
StoneCo Stock Down 0.9 %
Shares of StoneCo stock traded down $0.10 on Tuesday, hitting $11.57. 1,429,558 shares of the company’s stock traded hands, compared to its average volume of 5,088,061. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average is $12.71 and its 200 day moving average is $11.90. The stock has a market cap of $3.62 billion, a P/E ratio of 23.61, a PEG ratio of 0.28 and a beta of 2.23. StoneCo Ltd. has a 52-week low of $8.09 and a 52-week high of $14.83.
StoneCo (NASDAQ:STNE – Get Free Report) last released its quarterly earnings results on Wednesday, August 16th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.08. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. StoneCo had a return on equity of 6.66% and a net margin of 7.51%. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share. Equities analysts anticipate that StoneCo Ltd. will post 0.76 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. UBS Group raised shares of StoneCo from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $18.00 in a research report on Thursday, August 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 target price on shares of StoneCo in a research report on Thursday, August 17th. Evercore ISI upped their target price on shares of StoneCo from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, August 17th. Susquehanna upped their price target on StoneCo from $17.00 to $20.00 in a report on Thursday, May 18th. Finally, HSBC raised StoneCo from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $15.00 in a report on Monday, June 12th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.25.
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.