Coronation Fund Managers Ltd. Raises Stock Position in StoneCo Ltd. (NASDAQ:STNE)

Coronation Fund Managers Ltd. increased its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 43.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,673,459 shares of the company’s stock after purchasing an additional 1,111,065 shares during the period. StoneCo makes up 2.3% of Coronation Fund Managers Ltd.’s holdings, making the stock its 16th biggest position. Coronation Fund Managers Ltd. owned approximately 1.19% of StoneCo worth $41,363,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Financial Perspectives Inc raised its holdings in shares of StoneCo by 8.4% during the second quarter. Financial Perspectives Inc now owns 14,019 shares of the company’s stock worth $168,000 after purchasing an additional 1,083 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in StoneCo by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 123,275 shares of the company’s stock valued at $1,478,000 after buying an additional 1,848 shares in the last quarter. Stokes Family Office LLC increased its holdings in StoneCo by 16.8% in the first quarter. Stokes Family Office LLC now owns 14,600 shares of the company’s stock valued at $243,000 after buying an additional 2,100 shares in the last quarter. Y.D. More Investments Ltd increased its holdings in StoneCo by 90.2% in the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock valued at $58,000 after buying an additional 2,275 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in StoneCo in the first quarter valued at $41,000. Hedge funds and other institutional investors own 73.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a report on Thursday, October 3rd. Barclays cut their price objective on shares of StoneCo from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Morgan Stanley reaffirmed an “underweight” rating and issued a $7.00 price objective (down previously from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Finally, UBS Group lifted their target price 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. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.70.

StoneCo Stock Performance

STNE opened at $11.08 on Friday. The firm has a market capitalization of $3.42 billion, a PE ratio of 9.01, a PEG ratio of 0.39 and a beta of 2.29. StoneCo Ltd. has a twelve month low of $9.96 and a twelve month high of $19.46. The firm’s 50-day moving average price is $11.65 and its 200 day moving average price is $13.07. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.41.

StoneCo (NASDAQ:STNE) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). The business had revenue of $615.13 million for the quarter, compared to analyst estimates of $590.74 million. StoneCo had a return on equity of 13.21% and a net margin of 15.27%. As a group, sell-side analysts expect that StoneCo Ltd. will post 1.21 EPS for the current fiscal year.

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.