StoneCo Ltd. (NASDAQ:STNE) is Incline Global Management LLC’s 4th Largest Position

Incline Global Management LLC reduced its stake in StoneCo Ltd. (NASDAQ:STNE) by 5.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 936,295 shares of the company’s stock after selling 53,082 shares during the quarter. StoneCo comprises approximately 4.9% of Incline Global Management LLC’s portfolio, making the stock its 4th biggest holding. Incline Global Management LLC owned approximately 0.30% of StoneCo worth $15,552,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. UBS Group AG raised its position in shares of StoneCo by 14.5% during the 4th quarter. UBS Group AG now owns 2,001,221 shares of the company’s stock valued at $36,082,000 after buying an additional 253,276 shares in the last quarter. Quadrature Capital Ltd bought a new stake in StoneCo during the fourth quarter worth about $2,008,000. Norges Bank purchased a new position in shares of StoneCo in the 4th quarter worth about $58,777,000. Lord Abbett & CO. LLC bought a new position in shares of StoneCo during the 1st quarter valued at about $33,139,000. Finally, Federated Hermes Inc. raised its holdings in shares of StoneCo by 4.8% during the 4th quarter. Federated Hermes Inc. now owns 2,766,712 shares of the company’s stock valued at $49,884,000 after buying an additional 125,668 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STNE. Barclays cut their target price on StoneCo from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, May 20th. Susquehanna decreased their price target on shares of StoneCo from $23.00 to $22.00 and set a “positive” rating on the stock in a research note on Friday, April 19th. JPMorgan Chase & Co. raised shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Thursday, June 6th. Evercore ISI decreased their price target on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, UBS Group raised shares of StoneCo from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $21.00 to $17.00 in a research note on Monday, July 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.11.

StoneCo Trading Down 2.8 %

Shares of StoneCo stock traded down $0.38 on Tuesday, hitting $13.03. The stock had a trading volume of 5,055,442 shares, compared to its average volume of 5,218,338. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.25. StoneCo Ltd. has a one year low of $9.34 and a one year high of $19.46. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.35 and a beta of 2.33. The stock’s 50-day simple moving average is $12.97 and its two-hundred day simple moving average is $15.38.

StoneCo (NASDAQ:STNE) last issued its earnings results on Monday, May 13th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. StoneCo had a net margin of 14.08% and a return on equity of 12.35%. The firm had revenue of $623.12 million for the quarter, compared to analysts’ expectations of $633.35 million. As a group, sell-side analysts predict that StoneCo Ltd. will post 1.46 EPS for the current year.

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.