StoneCo Ltd. $STNE Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of StoneCo Ltd. (NASDAQ:STNE) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 647,957 shares of the company’s stock after purchasing an additional 35,426 shares during the period. Envestnet Asset Management Inc.’s holdings in StoneCo were worth $12,253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in shares of StoneCo in the 3rd quarter worth $55,000. Richardson Financial Services Inc. grew its holdings in StoneCo by 64.2% during the third quarter. Richardson Financial Services Inc. now owns 2,943 shares of the company’s stock worth $56,000 after acquiring an additional 1,151 shares during the period. TD Waterhouse Canada Inc. bought a new stake in StoneCo in the third quarter worth about $55,000. Farther Finance Advisors LLC lifted its holdings in StoneCo by 47.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,839 shares of the company’s stock valued at $73,000 after acquiring an additional 1,241 shares during the last quarter. Finally, CWM LLC lifted its holdings in StoneCo by 44.7% in 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 last quarter. 73.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on STNE shares. The Goldman Sachs Group lowered their price objective on shares of StoneCo from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Santander lowered shares of StoneCo from an “outperform” rating to a “neutral” rating in a research report on Thursday, January 29th. BTIG Research began coverage on StoneCo in a research report on Monday, February 9th. They set a “buy” rating and a $22.00 price objective for the company. Zacks Research lowered StoneCo from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StoneCo in a research report on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.50.

StoneCo Trading Down 2.4%

StoneCo stock opened at $16.46 on Wednesday. StoneCo Ltd. has a 52 week low of $8.64 and a 52 week high of $19.95. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of -30.48, a P/E/G ratio of 0.30 and a beta of 1.81. The company has a 50 day moving average price of $15.50 and a 200 day moving average price of $16.47.

StoneCo 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.