StoneCo (NASDAQ:STNE) Sees Large Volume Increase

Shares of StoneCo Ltd (NASDAQ:STNE) saw strong trading volume on Tuesday . 5,369,003 shares traded hands during trading, an increase of 85% from the previous session’s volume of 2,905,216 shares.The stock last traded at $35.79 and had previously closed at $34.54.

A number of analysts have commented on the stock. Susquehanna Bancshares assumed coverage on shares of StoneCo in a research report on Friday, May 31st. They set a “neutral” rating on the stock. Citigroup set a $27.00 price target on shares of StoneCo and gave the company a “hold” rating in a research report on Friday, May 31st. Goldman Sachs Group cut shares of SUMCO CORP/ADR from a “buy” rating to a “neutral” rating in a research report on Monday, June 10th. Zacks Investment Research cut shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, HSBC assumed coverage on shares of StoneCo in a research report on Tuesday, May 7th. They set a “reduce” rating and a $20.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. StoneCo has a consensus rating of “Hold” and a consensus target price of $34.13.

The company has a market capitalization of $9.98 billion and a P/E ratio of 108.45. The company has a 50-day moving average price of $31.21.

StoneCo (NASDAQ:STNE) last released its quarterly earnings data on Monday, May 13th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. The company had revenue of $142.17 million for the quarter. As a group, equities analysts predict that StoneCo Ltd will post 0.79 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in STNE. Focused Wealth Management Inc bought a new position in shares of StoneCo during the 2nd quarter worth about $30,000. Kwmg LLC bought a new position in shares of StoneCo during the 1st quarter worth about $45,000. Parisi Gray Wealth Management bought a new position in shares of StoneCo during the 1st quarter worth about $102,000. BNP Paribas Arbitrage SA bought a new position in shares of StoneCo during the 2nd quarter worth about $125,000. Finally, CenterStar Asset Management LLC bought a new position in shares of StoneCo during the 1st quarter worth about $235,000. 37.21% of the stock is currently owned by institutional investors.

StoneCo Company Profile (NASDAQ:STNE)

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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