Stevens Capital Management LP Raises Stock Position in StoneCo Ltd (NASDAQ:STNE)

Stevens Capital Management LP lifted its stake in shares of StoneCo Ltd (NASDAQ:STNE) by 202.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,985 shares of the company’s stock after buying an additional 31,453 shares during the quarter. Stevens Capital Management LP’s holdings in StoneCo were worth $1,390,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Focused Wealth Management Inc purchased a new stake in shares of StoneCo during the 2nd quarter worth approximately $30,000. Kwmg LLC acquired a new position in shares of StoneCo in the 1st quarter valued at $45,000. Parisi Gray Wealth Management acquired a new position in shares of StoneCo in the 1st quarter valued at $102,000. Canton Hathaway LLC increased its holdings in shares of StoneCo by 9.4% in the 2nd quarter. Canton Hathaway LLC now owns 44,905 shares of the company’s stock valued at $1,328,000 after acquiring an additional 3,875 shares during the period. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of StoneCo in the 2nd quarter valued at $125,000. Institutional investors and hedge funds own 37.49% of the company’s stock.

A number of brokerages have recently commented on STNE. Zacks Investment Research cut shares of StoneCo from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Bank of America reaffirmed a “buy” rating and issued a $42.00 target price on shares of StoneCo in a report on Thursday. HSBC began coverage on shares of StoneCo in a report on Tuesday, May 7th. They issued a “reduce” rating and a $20.00 target price on the stock. Susquehanna Bancshares began coverage on shares of StoneCo in a report on Friday, May 31st. They issued a “neutral” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $39.00 target price (up from $33.00) on shares of StoneCo in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. StoneCo currently has an average rating of “Hold” and an average target price of $34.88.

Shares of NASDAQ STNE traded up $1.55 during trading on Friday, hitting $32.07. 31,377 shares of the company were exchanged, compared to its average volume of 2,721,234. The company has a market cap of $9.67 billion and a price-to-earnings ratio of 96.30. StoneCo Ltd has a 1 year low of $16.14 and a 1 year high of $45.62. The firm’s fifty day moving average price is $33.30 and its 200 day moving average price is $30.40.

StoneCo (NASDAQ:STNE) last issued its earnings results on Monday, May 13th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $142.17 million for the quarter. As a group, sell-side analysts forecast that StoneCo Ltd will post 0.79 earnings per share for the current year.

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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Institutional Ownership by Quarter for StoneCo (NASDAQ:STNE)

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