StoneCo Ltd (NASDAQ:STNE) gapped down before the market opened on Tuesday . The stock had previously closed at $33.32, but opened at $34.26. StoneCo shares last traded at $34.72, with a volume of 1,071,426 shares.
Several research analysts have recently commented on the company. HSBC assumed coverage on StoneCo in a report on Tuesday, May 7th. They set a “reduce” rating and a $20.00 price target on the stock. Cantor Fitzgerald assumed coverage on StoneCo in a report on Friday, June 28th. They set an “overweight” rating and a $33.00 price target on the stock. Citigroup set a $27.00 price target on StoneCo and gave the stock a “hold” rating in a report on Friday, May 31st. Susquehanna Bancshares started coverage on StoneCo in a report on Friday, May 31st. They set a “neutral” rating on the stock. Finally, Zacks Investment Research downgraded StoneCo from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.13.
The firm has a 50-day moving average price of $33.14. The firm has a market capitalization of $9.99 billion and a PE ratio of 105.76.
Several large investors have recently modified their holdings of the stock. Focused Wealth Management Inc acquired a new position in StoneCo in the 2nd quarter valued at about $30,000. US Bancorp DE acquired a new position in StoneCo in the 2nd quarter valued at about $36,000. Kwmg LLC acquired a new position in StoneCo in the 1st quarter valued at about $45,000. Tower Research Capital LLC TRC grew its position in StoneCo by 109.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,214 shares of the company’s stock valued at $65,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Parisi Gray Wealth Management acquired a new position in StoneCo in the 1st quarter valued at about $102,000. 37.49% of the stock is owned by hedge funds and other institutional investors.
About StoneCo (NASDAQ:STNE)
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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