StoneCo (NASDAQ:STNE – Get Free Report) had its price target dropped by equities research analysts at Barclays from $12.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 5.15% from the stock’s previous close.
STNE has been the topic of several other reports. JPMorgan Chase & Co. reduced their price target on StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Citigroup reaffirmed a “neutral” rating and set a $9.00 price objective (down from $19.00) on shares of StoneCo in a research note on Thursday, January 16th. Susquehanna lowered their price target on StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.
StoneCo Stock Performance
Institutional Trading of StoneCo
Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in StoneCo by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 123,275 shares of the company’s stock worth $1,478,000 after purchasing an additional 1,848 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in StoneCo by 4.6% during the second quarter. Coronation Fund Managers Ltd. now owns 2,562,394 shares of the company’s stock valued at $30,723,000 after buying an additional 113,656 shares during the last quarter. SG Americas Securities LLC boosted its stake in StoneCo by 233.7% during the third quarter. SG Americas Securities LLC now owns 117,093 shares of the company’s stock valued at $1,318,000 after buying an additional 82,003 shares during the last quarter. Constellation Investimentos e Participacoes Ltda grew its holdings in StoneCo by 30.0% during the 3rd quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company’s stock valued at $34,316,000 after buying an additional 703,249 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new stake in shares of StoneCo during the 3rd quarter worth approximately $773,000. 73.19% of the stock is owned by hedge funds and other institutional investors.
StoneCo Company 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.
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