StoneCo Ltd. $STNE Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. trimmed its stake in StoneCo Ltd. (NASDAQ:STNE) by 30.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,456,269 shares of the company’s stock after selling 626,520 shares during the period. StoneCo comprises 1.4% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 18th biggest holding. Coronation Fund Managers Ltd.’s holdings in StoneCo were worth $27,538,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in STNE. AQR Capital Management LLC acquired a new stake in StoneCo in the 1st quarter valued at approximately $902,000. Strs Ohio acquired a new stake in shares of StoneCo in the first quarter valued at $70,000. Aberdeen Group plc raised its holdings in shares of StoneCo by 54.4% in the 2nd quarter. Aberdeen Group plc now owns 33,516 shares of the company’s stock valued at $538,000 after buying an additional 11,809 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in StoneCo during the 2nd quarter worth about $193,000. Finally, CWM LLC boosted its holdings in StoneCo by 44.7% during the 2nd quarter. CWM LLC now owns 4,565 shares of the company’s stock valued at $73,000 after acquiring an additional 1,411 shares during the period. Hedge funds and other institutional investors own 73.19% of the company’s stock.

StoneCo Stock Up 0.7%

Shares of StoneCo stock opened at $16.86 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.72. StoneCo Ltd. has a 52-week low of $8.64 and a 52-week high of $19.95. The company has a market capitalization of $4.82 billion, a P/E ratio of -31.22, a P/E/G ratio of 0.30 and a beta of 1.81. The company has a 50 day moving average of $15.43 and a 200 day moving average of $16.39.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of StoneCo in a research note on Thursday, January 22nd. Zacks Research cut shares of StoneCo from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. BTIG Research assumed coverage on shares of StoneCo in a report on Monday, February 9th. They set a “buy” rating and a $22.00 target price on the stock. Wall Street Zen downgraded shares of StoneCo from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, The Goldman Sachs Group cut their price objective on StoneCo from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, StoneCo presently has an average rating of “Hold” and an average price target of $17.50.

StoneCo Company Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.