StoneCo Ltd. (NASDAQ:STNE) Shares Sold by Azora Capital LP

Azora Capital LP cut its holdings in StoneCo Ltd. (NASDAQ:STNE) by 46.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 550,187 shares of the company’s stock after selling 469,950 shares during the period. Azora Capital LP’s holdings in StoneCo were worth $6,195,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its stake in shares of StoneCo by 10.2% in the 2nd 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 during the last quarter. Marshall Wace LLP raised its holdings in StoneCo by 204.1% in the 2nd quarter. Marshall Wace LLP now owns 7,741,662 shares of the company’s stock valued at $92,823,000 after buying an additional 5,195,787 shares during the period. Coronation Fund Managers Ltd. lifted its position in 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 buying an additional 1,111,065 shares during the last quarter. Constellation Investimentos e Participacoes Ltda boosted its stake in StoneCo by 30.0% during the third quarter. Constellation Investimentos e Participacoes Ltda now owns 3,047,576 shares of the company’s stock worth $34,316,000 after buying an additional 703,249 shares during the period. Finally, Truxt Investmentos Ltda. acquired a new stake in shares of StoneCo during the third quarter valued at about $31,695,000. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group upped 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 restated an “underweight” rating and set a $7.00 price target (down from $16.50) on shares of StoneCo in a research note on Thursday, September 5th. Barclays lowered their price target on StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Susquehanna cut their price objective on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.89.

StoneCo Stock Down 8.9 %

Shares of NASDAQ STNE opened at $9.48 on Monday. StoneCo Ltd. has a 12-month low of $9.06 and a 12-month high of $19.46. The stock has a market cap of $2.93 billion, a P/E ratio of 7.41, a PEG ratio of 0.33 and a beta of 2.29. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $10.87 and its 200-day simple moving average is $12.27.

StoneCo 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.