StoneCo (NASDAQ:STNE) Stock Price Down 4.4% – Here’s What Happened

StoneCo Ltd. (NASDAQ:STNE) traded down 4.4% during trading on Tuesday . The stock traded as low as $10.79 and last traded at $10.84. 1,716,985 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 5,073,218 shares. The stock had previously closed at $11.34.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Cantor Fitzgerald raised StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays reduced their price target on StoneCo from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley restated an “underweight” rating and issued a $7.00 price target (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Finally, UBS Group raised their price target on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.70.

StoneCo Trading Down 2.7 %

The company has a fifty day simple moving average of $11.60 and a two-hundred day simple moving average of $13.01. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $3.41 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 0.39 and a beta of 2.29.

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

Institutional Trading of StoneCo

A number of institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. lifted its holdings in shares of StoneCo by 10.2% in the second quarter. Point72 Asset Management L.P. now owns 8,386,945 shares of the company’s stock valued at $100,559,000 after purchasing an additional 779,445 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of StoneCo by 204.1% in the second quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock valued at $92,823,000 after purchasing an additional 5,195,787 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of StoneCo by 43.4% in the third quarter. Coronation Fund Managers Ltd. now owns 3,673,459 shares of the company’s stock valued at $41,363,000 after purchasing an additional 1,111,065 shares in the last quarter. Constellation Investimentos e Participacoes Ltda lifted its holdings in shares of StoneCo by 30.0% in the third quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company’s stock valued at $34,316,000 after purchasing an additional 703,249 shares in the last quarter. Finally, Truxt Investmentos Ltda. bought a new stake in shares of StoneCo in the third quarter valued at about $31,695,000. 73.19% of the stock is currently owned by institutional investors.

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.