Navellier & Associates Inc. Has $231,000 Stock Holdings in StoneCo Ltd. (NASDAQ:STNE)

Navellier & Associates Inc. reduced its holdings in StoneCo Ltd. (NASDAQ:STNE) by 24.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 20,499 shares of the company’s stock after selling 6,457 shares during the quarter. Navellier & Associates Inc.’s holdings in StoneCo were worth $231,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of STNE. Marshall Wace LLP grew its stake in shares of StoneCo by 204.1% in the second quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock worth $92,823,000 after purchasing an additional 5,195,787 shares during the last quarter. Truxt Investmentos Ltda. bought a new stake in shares of StoneCo in the 3rd quarter valued at about $31,695,000. Hsbc Holdings PLC increased its stake in shares of StoneCo by 2,445.5% in the second quarter. Hsbc Holdings PLC now owns 2,287,353 shares of the company’s stock valued at $27,151,000 after buying an additional 2,197,495 shares during the period. American Century Companies Inc. bought a new position in shares of StoneCo during the second quarter worth about $23,483,000. Finally, Fourth Sail Capital LP acquired a new position in shares of StoneCo in the second quarter worth approximately $21,323,000. Institutional investors own 73.19% of the company’s stock.

StoneCo Trading Up 10.7 %

NASDAQ STNE opened at $10.26 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo Ltd. has a 52 week low of $9.06 and a 52 week high of $19.46. The business has a 50 day moving average price of $11.09 and a 200-day moving average price of $12.56. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 0.33 and a beta of 2.29.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Susquehanna lowered their price target on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a report on Wednesday, November 13th. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays cut their price target on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Morgan Stanley reissued an “underweight” rating and issued a $7.00 price objective (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. Finally, UBS Group raised their target price on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, StoneCo currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.89.

StoneCo Profile

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.