Federated Hermes Inc. Purchases 318,845 Shares of StoneCo Ltd. $STNE

Federated Hermes Inc. lifted its position in StoneCo Ltd. (NASDAQ:STNE) by 27.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,501,896 shares of the company’s stock after buying an additional 318,845 shares during the period. Federated Hermes Inc.’s holdings in StoneCo were worth $24,090,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cresset Asset Management LLC purchased a new position in StoneCo in the 2nd quarter worth approximately $295,000. Marshall Wace LLP bought a new stake in shares of StoneCo in the 2nd quarter worth $34,768,000. First Trust Advisors LP raised its stake in shares of StoneCo by 10.0% in the second quarter. First Trust Advisors LP now owns 13,995 shares of the company’s stock worth $224,000 after purchasing an additional 1,273 shares during the last quarter. Invesco Ltd. raised its stake in shares of StoneCo by 8.3% in the second quarter. Invesco Ltd. now owns 256,142 shares of the company’s stock worth $4,109,000 after purchasing an additional 19,723 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of StoneCo during the second quarter valued at $11,980,000. Institutional investors own 73.19% of the company’s stock.

StoneCo Stock Performance

Shares of NASDAQ STNE opened at $14.62 on Wednesday. StoneCo Ltd. has a 12-month low of $7.72 and a 12-month high of $19.95. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -27.07, a price-to-earnings-growth ratio of 0.29 and a beta of 1.85. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $17.29 and a 200 day moving average of $16.10.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on STNE shares. The Goldman Sachs Group lifted their price objective on StoneCo from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Weiss Ratings restated a “sell (d+)” rating on shares of StoneCo in a research note on Wednesday, October 8th. Bank of America lifted their price target on shares of StoneCo from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Zacks Research upgraded shares of StoneCo to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.21.

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.