Barclays PLC acquired a new position in StoneCo Ltd (NASDAQ:STNE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,777 shares of the company’s stock, valued at approximately $456,000.
Other large investors have also modified their holdings of the company. Victory Capital Management Inc. bought a new stake in shares of StoneCo in the fourth quarter valued at about $46,000. PNC Financial Services Group Inc. bought a new stake in shares of StoneCo in the fourth quarter valued at about $293,000. Dean Capital Investments Management LLC bought a new stake in shares of StoneCo in the fourth quarter valued at about $353,000. Loeb Partners Corp bought a new stake in shares of StoneCo in the fourth quarter valued at about $480,000. Finally, Geode Capital Management LLC bought a new stake in shares of StoneCo in the fourth quarter valued at about $1,463,000. Hedge funds and other institutional investors own 33.19% of the company’s stock.
NASDAQ:STNE traded up $1.68 during mid-day trading on Wednesday, hitting $26.82. The company’s stock had a trading volume of 10,149,540 shares, compared to its average volume of 3,239,445. StoneCo Ltd has a fifty-two week low of $16.14 and a fifty-two week high of $45.62. The firm has a market capitalization of $7.43 billion and a PE ratio of 81.27.
Several equities research analysts recently weighed in on the stock. Bank of America increased their target price on shares of StoneCo from $26.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Zacks Investment Research cut shares of StoneCo from a “buy” rating to a “hold” rating in a research note on Saturday, March 30th. Morgan Stanley reiterated an “overweight” rating and issued a $47.00 target price (up previously from $35.00) on shares of StoneCo in a research note on Thursday, March 21st. Finally, Citigroup cut shares of StoneCo from a “buy” rating to a “neutral” rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.27.
StoneCo Company Profile
StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.
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