StoneCo (NASDAQ:STNE) Shares Down 5.1% – Here’s What Happened

StoneCo Ltd. (NASDAQ:STNE)’s stock price traded down 5.1% during trading on Wednesday . The stock traded as low as $8.89 and last traded at $9.09. 2,153,908 shares were traded during trading, a decline of 55% from the average session volume of 4,822,074 shares. The stock had previously closed at $9.57.

Analyst Ratings Changes

STNE has been the topic of a number of research analyst reports. The Goldman Sachs Group dropped their price objective on shares of StoneCo from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their price target on StoneCo from $21.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Barclays reduced their price objective on StoneCo from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Susquehanna decreased their target price on StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a report on Wednesday, November 13th. Finally, Citigroup reiterated a “neutral” rating and issued a $9.00 price target (down previously from $19.00) on shares of StoneCo in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.38.

StoneCo Stock Performance

The firm’s 50 day moving average is $8.62 and its 200-day moving average is $10.61. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 0.37 and a beta of 2.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42.

Hedge Funds Weigh In On StoneCo

Institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC lifted its holdings in StoneCo by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 174,709 shares of the company’s stock valued at $1,392,000 after purchasing an additional 9,578 shares in the last quarter. MYDA Advisors LLC purchased a new stake in StoneCo during the 4th quarter valued at about $424,000. Claret Asset Management Corp grew its stake in StoneCo by 49.5% during the 4th quarter. Claret Asset Management Corp now owns 15,100 shares of the company’s stock valued at $120,000 after acquiring an additional 5,000 shares in the last quarter. Zacks Investment Management grew its stake in StoneCo by 32.0% during the 4th quarter. Zacks Investment Management now owns 127,068 shares of the company’s stock valued at $1,013,000 after acquiring an additional 30,825 shares in the last quarter. Finally, Jump Financial LLC grew its stake in StoneCo by 179.2% during the 4th quarter. Jump Financial LLC now owns 373,793 shares of the company’s stock valued at $2,979,000 after acquiring an additional 239,929 shares in the last quarter. Hedge funds and other institutional investors own 73.19% of the company’s stock.

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.