StoneCo (NASDAQ:STNE) Stock Price Down 3.1%

Shares of StoneCo Ltd. (NASDAQ:STNE) traded down 3.1% during trading on Wednesday . The stock traded as low as $12.62 and last traded at $12.70. 1,072,475 shares were traded during mid-day trading, a decline of 80% from the average session volume of 5,473,496 shares. The stock had previously closed at $13.11.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of StoneCo from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Thursday, June 6th. Evercore ISI decreased their target price on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. UBS Group upped their target price on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Barclays decreased their target price on shares of StoneCo from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group decreased their target price on shares of StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

StoneCo Price Performance

The company has a market capitalization of $3.93 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.47 and a beta of 2.31. The firm’s fifty day moving average is $13.11 and its 200 day moving average is $14.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.36 and a current ratio of 1.36.

Hedge Funds Weigh In On StoneCo

Several hedge funds have recently added to or reduced their stakes in the company. UBS Group AG grew its stake in StoneCo by 14.5% in the 4th quarter. UBS Group AG now owns 2,001,221 shares of the company’s stock worth $36,082,000 after acquiring an additional 253,276 shares in the last quarter. Quadrature Capital Ltd bought a new position in StoneCo in the 4th quarter worth about $2,008,000. Norges Bank bought a new position in StoneCo in the 4th quarter worth about $58,777,000. Lord Abbett & CO. LLC bought a new position in StoneCo in the 1st quarter worth about $33,139,000. Finally, Vanguard Group Inc. grew its stake in StoneCo by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 2,636,619 shares of the company’s stock worth $43,794,000 after acquiring an additional 88,256 shares in the last quarter. 73.19% of the stock is currently owned by institutional investors.

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.