Itau Unibanco Holding S.A. Has $4.64 Million Position in StoneCo Ltd. (NASDAQ:STNE)

Itau Unibanco Holding S.A. reduced its stake in shares of StoneCo Ltd. (NASDAQ:STNE) by 66.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,342 shares of the company’s stock after selling 827,615 shares during the quarter. Itau Unibanco Holding S.A. owned 0.13% of StoneCo worth $4,643,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of StoneCo in the third quarter valued at approximately $716,000. Citigroup Inc. boosted its holdings in shares of StoneCo by 584.9% in the 3rd quarter. Citigroup Inc. now owns 1,339,972 shares of the company’s stock worth $15,088,000 after buying an additional 1,144,341 shares during the last quarter. Intech Investment Management LLC purchased a new stake in StoneCo during the 3rd quarter worth about $1,154,000. Point72 Asset Management L.P. increased its stake in StoneCo by 10.2% in the second quarter. Point72 Asset Management L.P. now owns 8,386,945 shares of the company’s stock valued at $100,559,000 after acquiring an additional 779,445 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of StoneCo by 3.5% in the first quarter. Vanguard Group Inc. now owns 2,636,619 shares of the company’s stock valued at $43,794,000 after acquiring an additional 88,256 shares during the period. Institutional investors and hedge funds own 73.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on STNE. Susquehanna reduced their price target on StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research report on Wednesday, November 13th. Morgan Stanley restated an “underweight” rating and issued a $7.00 target price (down previously from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Barclays dropped their price objective 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. UBS Group lifted their target price on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, StoneCo has a consensus rating of “Moderate Buy” and a consensus price target of $16.89.

StoneCo Price Performance

NASDAQ:STNE opened at $9.73 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. StoneCo Ltd. has a one year low of $9.06 and a one year high of $19.46. The company has a market cap of $3.01 billion, a P/E ratio of 7.60, a P/E/G ratio of 0.33 and a beta of 2.21. The firm’s fifty day moving average price is $10.85 and its two-hundred day moving average price is $12.22.

About StoneCo

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.