BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys Shares of 98,000 StoneCo Ltd. (NASDAQ:STNE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in StoneCo Ltd. (NASDAQ:STNE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 98,000 shares of the company’s stock, valued at approximately $1,103,000.

Several other hedge funds have also recently made changes to their positions in STNE. Central Bank & Trust Co. purchased a new stake in StoneCo in the second quarter worth approximately $40,000. Y.D. More Investments Ltd lifted its holdings in shares of StoneCo by 90.2% during the 2nd 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 during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of StoneCo during the 3rd quarter valued at $125,000. Point72 Hong Kong Ltd purchased a new position in shares of StoneCo in the 2nd quarter worth $135,000. Finally, nVerses Capital LLC bought a new stake in shares of StoneCo in the second quarter worth $137,000. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Stock Down 1.5 %

Shares of STNE stock opened at $9.39 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. StoneCo Ltd. has a one year low of $9.06 and a one year high of $19.46. The company’s fifty day moving average price is $10.75 and its 200-day moving average price is $12.14. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 0.33 and a beta of 2.21.

Analysts Set New Price Targets

A number of research firms have weighed in on STNE. Susquehanna lowered their target price on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a report on Wednesday, November 13th. UBS Group raised their price objective on shares of StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Morgan Stanley reaffirmed an “underweight” rating and set a $7.00 target price (down from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Barclays cut their price objective on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.89.

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.