Koa Wealth Management LLC Increases Stake in StoneCo Ltd. (NASDAQ:STNE)

Koa Wealth Management LLC lifted its position in StoneCo Ltd. (NASDAQ:STNE) by 205.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 157,420 shares of the company’s stock after acquiring an additional 105,943 shares during the quarter. StoneCo accounts for about 1.6% of Koa Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. Koa Wealth Management LLC’s holdings in StoneCo were worth $1,887,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of STNE. Norges Bank purchased a new position in shares of StoneCo in the 4th quarter worth approximately $58,777,000. Lord Abbett & CO. LLC bought a new stake in shares of StoneCo in the 1st quarter worth about $33,139,000. Constellation Investimentos e Participacoes Ltda purchased a new position in shares of StoneCo during the 1st quarter worth about $24,712,000. Azora Capital LP bought a new position in StoneCo during the 4th quarter valued at about $18,458,000. Finally, BW Gestao de Investimentos Ltda. raised its position in StoneCo by 262.2% in the 1st quarter. BW Gestao de Investimentos Ltda. now owns 1,230,000 shares of the company’s stock worth $20,430,000 after purchasing an additional 890,442 shares during the period. 73.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Evercore ISI cut their target price on StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. UBS Group upgraded shares of StoneCo from a “neutral” rating to a “buy” rating and cut their price target for the stock from $21.00 to $17.00 in a report on Monday, July 8th. The Goldman Sachs Group dropped their target price on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Barclays lowered their price target on StoneCo from $16.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.89.

StoneCo Stock Down 3.0 %

NASDAQ STNE traded down $0.43 on Thursday, hitting $13.80. The stock had a trading volume of 4,419,749 shares, compared to its average volume of 5,293,356. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.37 and a beta of 2.32. StoneCo Ltd. has a 52-week low of $9.34 and a 52-week high of $19.46. The business’s fifty day moving average price is $12.84 and its 200 day moving average price is $14.91.

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.