StoneCo (NASDAQ:STNE) Price Target Cut to $15.00 by Analysts at JPMorgan Chase & Co.

StoneCo (NASDAQ:STNE) had its price target decreased by JPMorgan Chase & Co. from $21.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on STNE. Morgan Stanley reaffirmed an “underweight” rating and set a $7.00 price objective (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. UBS Group increased their price objective on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a report on Thursday, October 3rd. Susquehanna decreased their target price on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research report on Wednesday, November 13th. Finally, 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 report on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.13.

StoneCo Stock Down 3.4 %

STNE opened at $8.71 on Monday. The company has a market capitalization of $2.69 billion, a PE ratio of 6.80, a price-to-earnings-growth ratio of 0.35 and a beta of 2.21. The firm has a 50-day simple moving average of $10.45 and a two-hundred day simple moving average of $11.85. 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 has a 52 week low of $8.70 and a 52 week high of $19.46.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in STNE. Point72 Asset Management L.P. boosted its stake in shares of StoneCo by 36.2% during the third quarter. Point72 Asset Management L.P. now owns 11,422,475 shares of the company’s stock valued at $128,617,000 after purchasing an additional 3,035,530 shares in the last quarter. State Street Corp raised its position in shares of StoneCo by 51.0% in the 3rd quarter. State Street Corp now owns 7,972,037 shares of the company’s stock valued at $89,765,000 after purchasing an additional 2,692,558 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of StoneCo by 204.1% during the second quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock valued at $92,823,000 after buying an additional 5,195,787 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of StoneCo by 36.0% in the third quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company’s stock valued at $58,302,000 after purchasing an additional 1,374,788 shares during the period. Finally, Coronation Fund Managers Ltd. raised its position in StoneCo by 43.4% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company’s stock worth $41,363,000 after buying an additional 1,111,065 shares during the last quarter. Hedge funds and other institutional investors 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.