Assenagon Asset Management S.A. Sells 189,715 Shares of StoneCo Ltd. (NASDAQ:STNE)

Assenagon Asset Management S.A. cut its position in StoneCo Ltd. (NASDAQ:STNE) by 63.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,379 shares of the company’s stock after selling 189,715 shares during the period. Assenagon Asset Management S.A.’s holdings in StoneCo were worth $872,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in STNE. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of StoneCo in the 3rd quarter worth approximately $125,000. Point72 Hong Kong Ltd bought a new position in StoneCo in the 2nd quarter valued at $135,000. Covestor Ltd boosted its stake in StoneCo by 40.9% in the third quarter. Covestor Ltd now owns 13,350 shares of the company’s stock worth $150,000 after purchasing an additional 3,878 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in StoneCo in the third quarter worth $156,000. Finally, XTX Topco Ltd bought a new stake in shares of StoneCo during the third quarter worth $167,000. 73.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on STNE shares. JPMorgan Chase & Co. reduced their price target on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Susquehanna reduced 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. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays dropped their price objective on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Finally, Citigroup reiterated a “neutral” rating and issued a $9.00 price objective (down from $19.00) on shares of StoneCo in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

StoneCo Trading Up 1.5 %

NASDAQ:STNE opened at $8.69 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo Ltd. has a 1-year low of $7.72 and a 1-year high of $19.46. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 0.34 and a beta of 2.23. The business’s 50-day moving average price is $8.79 and its two-hundred day moving average price is $11.01.

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.