Gilder Gagnon Howe & Co. LLC Cuts Stake in StoneCo Ltd (NASDAQ:STNE)

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Gilder Gagnon Howe & Co. LLC reduced its holdings in shares of StoneCo Ltd (NASDAQ:STNE) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,392,672 shares of the company’s stock after selling 93,092 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 0.50% of StoneCo worth $48,437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in STNE. Price T Rowe Associates Inc. MD grew its holdings in StoneCo by 10.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,168,221 shares of the company’s stock worth $1,040,276,000 after acquiring an additional 3,234,024 shares in the last quarter. Invesco Ltd. acquired a new stake in StoneCo during the 2nd quarter worth $251,806,000. Maverick Capital Ltd. acquired a new stake in StoneCo during the 2nd quarter worth $77,364,000. Bamco Inc. NY boosted its stake in StoneCo by 103.6% during the 2nd quarter. Bamco Inc. NY now owns 2,103,266 shares of the company’s stock worth $62,215,000 after purchasing an additional 1,069,975 shares during the period. Finally, Echo Street Capital Management LLC boosted its stake in StoneCo by 240.0% during the 2nd quarter. Echo Street Capital Management LLC now owns 1,629,660 shares of the company’s stock worth $48,205,000 after purchasing an additional 1,150,301 shares during the period. 44.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of STNE traded down $0.86 during trading hours on Tuesday, reaching $37.87. The company had a trading volume of 30,071 shares, compared to its average volume of 2,597,938. The firm has a 50 day simple moving average of $37.27 and a 200-day simple moving average of $33.19. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 114.91, a PEG ratio of 0.99 and a beta of 2.33. StoneCo Ltd has a 12-month low of $16.14 and a 12-month high of $45.62.

StoneCo (NASDAQ:STNE) last posted its earnings results on Thursday, November 21st. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). StoneCo had a net margin of 28.74% and a return on equity of 12.29%. The business had revenue of $169.33 million for the quarter, compared to analysts’ expectations of $131.41 million. Sell-side analysts forecast that StoneCo Ltd will post 0.73 earnings per share for the current year.

A number of equities analysts have commented on STNE shares. Zacks Investment Research downgraded shares of StoneCo from a “buy” rating to a “hold” rating in a research report on Friday, November 29th. Bank of America reiterated a “buy” rating and issued a $42.00 price target on shares of StoneCo in a report on Thursday, August 15th. ValuEngine downgraded shares of StoneCo from a “hold” rating to a “sell” rating in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $39.00 price target (up previously from $33.00) on shares of StoneCo in a report on Thursday, August 15th. Finally, Evercore ISI started coverage on shares of StoneCo in a report on Thursday, November 14th. They issued an “inline” rating and a $36.00 price target for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. StoneCo currently has an average rating of “Hold” and a consensus price target of $38.00.

About StoneCo

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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Institutional Ownership by Quarter for StoneCo (NASDAQ:STNE)

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