Swiss National Bank Purchases Shares of 570,057 StoneCo Ltd. (NASDAQ:STNE)

Swiss National Bank acquired a new position in shares of StoneCo Ltd. (NASDAQ:STNE) during the 3rd quarter, Holdings Channel reports. The fund acquired 570,057 shares of the company’s stock, valued at approximately $6,419,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Marshall Wace LLP boosted its stake in StoneCo by 204.1% in the 2nd quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock worth $92,823,000 after buying an additional 5,195,787 shares during the last quarter. Truxt Investmentos Ltda. purchased a new position in shares of StoneCo during the 3rd quarter worth about $31,695,000. Hsbc Holdings PLC boosted its position 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 worth $27,151,000 after acquiring an additional 2,197,495 shares during the last quarter. American Century Companies Inc. purchased a new stake in StoneCo in the second quarter valued at approximately $23,483,000. Finally, Fourth Sail Capital LP acquired a new position in StoneCo during the second quarter worth approximately $21,323,000. Hedge funds and other institutional investors own 73.19% of the company’s stock.

Analyst Ratings Changes

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

StoneCo Stock Performance

Shares of NASDAQ:STNE opened at $10.70 on Wednesday. The company has a market cap of $3.31 billion, a P/E ratio of 8.38, a PEG ratio of 0.36 and a beta of 2.29. The business’s 50-day simple moving average is $11.02 and its 200 day simple moving average is $12.41. StoneCo Ltd. has a one year low of $9.06 and a one year high of $19.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42.

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.