StoneCo (NASDAQ:STNE) Shares Gap Down to $12.61

StoneCo Ltd. (NASDAQ:STNE)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $12.61, but opened at $11.31. StoneCo shares last traded at $11.71, with a volume of 3,476,710 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on STNE. The Goldman Sachs Group lowered their target price on StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Thursday, June 6th. Morgan Stanley reissued an “underweight” rating and set a $7.00 price objective (down previously from $16.50) on shares of StoneCo in a research report on Thursday. Barclays decreased their price target on StoneCo from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, Evercore ISI lowered their target price on StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.80.

StoneCo Stock Performance

The stock’s 50 day simple moving average is $13.13 and its two-hundred day simple moving average is $14.62. The company has a market capitalization of $3.70 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.47 and a beta of 2.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.36 and a quick ratio of 1.36.

Institutional Trading of StoneCo

A number of institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. lifted its holdings in shares of StoneCo by 10.2% in the second quarter. Point72 Asset Management L.P. now owns 8,386,945 shares of the company’s stock valued at $100,559,000 after purchasing an additional 779,445 shares in the last quarter. Marshall Wace LLP grew its position in shares of StoneCo by 204.1% in the 2nd quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock valued at $92,823,000 after acquiring an additional 5,195,787 shares during the period. Polunin Capital Partners Ltd grew its holdings in StoneCo by 10.5% during the first quarter. Polunin Capital Partners Ltd now owns 3,681,947 shares of the company’s stock worth $61,157,000 after purchasing an additional 350,656 shares during the period. Norges Bank bought a new stake in StoneCo in the 4th quarter valued at $58,777,000. Finally, Coronation Fund Managers Ltd. lifted its stake in shares of StoneCo by 16.0% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 2,841,696 shares of the company’s stock worth $34,072,000 after buying an additional 392,958 shares during the last quarter. Institutional investors and hedge funds own 73.19% of the company’s stock.

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.