Cetera Investment Advisers Makes New $1.71 Million Investment in StoneCo Ltd. $STNE

Cetera Investment Advisers purchased a new stake in shares of StoneCo Ltd. (NASDAQ:STNE) during the 2nd quarter, HoldingsChannel reports. The firm purchased 106,339 shares of the company’s stock, valued at approximately $1,706,000.

Several other institutional investors have also recently modified their holdings of STNE. Creative Planning lifted its holdings in shares of StoneCo by 5.5% during the second quarter. Creative Planning now owns 118,816 shares of the company’s stock worth $1,906,000 after purchasing an additional 6,154 shares during the period. PNC Financial Services Group Inc. raised its position in StoneCo by 13.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company’s stock worth $154,000 after buying an additional 1,104 shares during the last quarter. Advyzon Investment Management LLC acquired a new stake in StoneCo during the 2nd quarter valued at approximately $173,000. Compass Group LLC purchased a new stake in shares of StoneCo in the 2nd quarter valued at $154,000. Finally, Vise Technologies Inc. acquired a new stake in shares of StoneCo in the second quarter worth $459,000. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on STNE. UBS Group raised their target price on shares of StoneCo from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, August 29th. The Goldman Sachs Group boosted their price objective on StoneCo from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Bank of America upped their target price on StoneCo from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Wall Street Zen cut StoneCo from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of StoneCo in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, StoneCo presently has an average rating of “Moderate Buy” and a consensus price target of $17.21.

StoneCo Price Performance

Shares of StoneCo stock opened at $16.85 on Monday. The firm has a market cap of $4.82 billion, a PE ratio of -31.19, a P/E/G ratio of 0.32 and a beta of 1.85. StoneCo Ltd. has a twelve month low of $7.72 and a twelve month high of $19.95. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $17.75 and a 200 day moving average price of $15.99.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $669.49 million for the quarter, compared to the consensus estimate of $669.81 million. StoneCo had a positive return on equity of 20.18% and a negative net margin of 7.28%. Sell-side analysts predict that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

StoneCo 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.