StoneCo Ltd. (NASDAQ:STNE) Position Cut by Synovus Financial Corp

Synovus Financial Corp lowered its position in shares of StoneCo Ltd. (NASDAQ:STNE) by 50.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,614 shares of the company’s stock after selling 14,614 shares during the period. Synovus Financial Corp’s holdings in StoneCo were worth $116,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Jones Financial Companies Lllp increased its stake in shares of StoneCo by 254.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,256 shares of the company’s stock valued at $34,000 after purchasing an additional 3,056 shares during the period. Sterling Capital Management LLC grew its holdings in StoneCo by 627.0% in the 4th quarter. Sterling Capital Management LLC now owns 4,551 shares of the company’s stock worth $36,000 after buying an additional 3,925 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in StoneCo by 166.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,400 shares of the company’s stock valued at $51,000 after acquiring an additional 4,000 shares during the period. SBI Securities Co. Ltd. bought a new stake in StoneCo during the 4th quarter valued at $56,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in StoneCo by 31.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 7,500 shares of the company’s stock worth $59,000 after acquiring an additional 1,800 shares during the period. Institutional investors and hedge funds own 73.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STNE has been the topic of a number of research analyst reports. Wells Fargo & Company raised StoneCo from an “equal weight” rating to an “overweight” rating in a report on Wednesday, March 19th. Barclays upped their price target on shares of StoneCo from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Morgan Stanley raised their price objective on shares of StoneCo from $5.70 to $6.00 and gave the company an “underweight” rating in a research note on Friday, March 21st. The Goldman Sachs Group cut their target price on StoneCo from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup reiterated a “neutral” rating and set a $9.00 price target (down from $19.00) on shares of StoneCo in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, StoneCo presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

StoneCo Price Performance

NASDAQ STNE opened at $12.26 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo Ltd. has a 1 year low of $7.72 and a 1 year high of $17.09. The company has a market cap of $3.79 billion, a PE ratio of 9.58, a PEG ratio of 0.41 and a beta of 2.05. The stock’s 50-day moving average price is $10.39 and its two-hundred day moving average price is $9.90.

StoneCo (NASDAQ:STNE) last released its quarterly earnings results on Tuesday, March 18th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. StoneCo had a net margin of 16.02% and a return on equity of 13.92%. The business had revenue of $582.20 million for the quarter, compared to analyst estimates of $3.59 billion. On average, analysts predict that StoneCo Ltd. will post 1.16 EPS for the current year.

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.