Sciencast Management LP lifted its holdings in StoneCo Ltd (NASDAQ:STNE) by 32.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the company’s stock after purchasing an additional 4,930 shares during the period. Sciencast Management LP’s holdings in StoneCo were worth $754,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Advisors LP acquired a new position in shares of StoneCo in the first quarter worth about $366,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of StoneCo during the first quarter worth approximately $411,000. UBS Group AG boosted its holdings in shares of StoneCo by 21.3% during the fourth quarter. UBS Group AG now owns 106,934 shares of the company’s stock worth $4,266,000 after purchasing an additional 18,793 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of StoneCo by 274.1% during the fourth quarter. Bank of New York Mellon Corp now owns 33,777 shares of the company’s stock worth $1,347,000 after purchasing an additional 24,748 shares during the period. Finally, Man Group plc boosted its holdings in shares of StoneCo by 35.8% during the fourth quarter. Man Group plc now owns 33,333 shares of the company’s stock worth $1,330,000 after purchasing an additional 8,788 shares during the period. 45.42% of the stock is currently owned by institutional investors.
STNE has been the subject of several research reports. BidaskClub upgraded shares of StoneCo from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research cut shares of StoneCo from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Citigroup lifted their target price on shares of StoneCo from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Goldman Sachs Group lifted their target price on shares of StoneCo from $32.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, July 27th. They noted that the move was a valuation call. Finally, Guggenheim lifted their target price on shares of StoneCo from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. StoneCo currently has a consensus rating of “Buy” and a consensus price target of $42.00.
StoneCo (NASDAQ:STNE) last released its quarterly earnings results on Tuesday, May 26th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.43. StoneCo had a net margin of 28.63% and a return on equity of 13.25%. The company had revenue of $161.87 million for the quarter, compared to analyst estimates of $137.53 million. Research analysts predict that StoneCo Ltd will post 0.58 EPS for the current fiscal 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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