StoneCo (NASDAQ:STNE) Reaches New 12-Month High at $55.34

StoneCo Ltd (NASDAQ:STNE) reached a new 52-week high during trading on Wednesday . The company traded as high as $55.34 and last traded at $54.74, with a volume of 7506 shares traded. The stock had previously closed at $53.72.

A number of research firms recently commented on STNE. Zacks Investment Research lowered StoneCo from a “hold” rating to a “sell” rating in a research report on Friday, August 28th. Guggenheim increased their price target on StoneCo from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Bradesco Corretora downgraded StoneCo from a “neutral” rating to an “underperform” rating and set a $42.00 price objective on the stock. in a report on Wednesday, August 12th. Citigroup began coverage on StoneCo in a report on Friday, August 14th. They set a “buy” rating and a $58.00 price objective on the stock. Finally, Evercore ISI raised StoneCo from an “in-line” rating to an “outperform” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $45.82.

The stock has a fifty day simple moving average of $49.58 and a 200-day simple moving average of $36.18. The stock has a market cap of $14.90 billion, a P/E ratio of 86.65 and a beta of 2.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.57 and a current ratio of 1.57.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.10. StoneCo had a return on equity of 12.30% and a net margin of 26.52%. On average, research analysts anticipate that StoneCo Ltd will post 0.53 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors lifted its position in StoneCo by 36.9% during the first quarter. Capital Research Global Investors now owns 21,411,779 shares of the company’s stock worth $466,147,000 after acquiring an additional 5,773,640 shares during the last quarter. Clearbridge Investments LLC increased its stake in StoneCo by 19.4% in the first quarter. Clearbridge Investments LLC now owns 2,321,553 shares of the company’s stock valued at $50,540,000 after acquiring an additional 376,862 shares during the last quarter. 1832 Asset Management L.P. increased its stake in StoneCo by 119.3% in the first quarter. 1832 Asset Management L.P. now owns 2,002,200 shares of the company’s stock valued at $47,379,000 after acquiring an additional 1,089,000 shares during the last quarter. Bamco Inc. NY increased its stake in StoneCo by 48.5% in the second quarter. Bamco Inc. NY now owns 1,929,937 shares of the company’s stock valued at $74,804,000 after acquiring an additional 630,210 shares during the last quarter. Finally, BlackRock Inc. increased its stake in StoneCo by 39.6% in the first quarter. BlackRock Inc. now owns 1,918,848 shares of the company’s stock valued at $41,772,000 after acquiring an additional 544,188 shares during the last quarter. Institutional investors own 49.56% of the company’s stock.

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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