StoneCo (NASDAQ:STNE) Downgraded by Bank of America to Neutral

Bank of America cut shares of StoneCo (NASDAQ:STNE) from a buy rating to a neutral rating in a research report report published on Wednesday, Marketbeat Ratings reports. The firm currently has $13.00 price target on the stock.

A number of other research firms have also recently commented on STNE. BTIG Research decreased their price target on StoneCo from $22.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Citigroup lowered shares of StoneCo from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $11.00 in a research report on Friday, May 15th. JPMorgan Chase & Co. lowered their target price on shares of StoneCo from $20.00 to $16.50 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings downgraded shares of StoneCo from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, StoneCo has a consensus rating of “Hold” and a consensus target price of $15.58.

StoneCo Stock Down 0.2%

StoneCo stock opened at $11.28 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.57. The firm has a market cap of $2.81 billion, a P/E ratio of 4.51, a P/E/G ratio of 0.21 and a beta of 1.73. The business has a fifty day moving average of $10.84 and a two-hundred day moving average of $13.47. StoneCo has a twelve month low of $9.45 and a twelve month high of $19.95.

StoneCo (NASDAQ:STNE) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. StoneCo had a return on equity of 21.05% and a net margin of 23.82%.The company had revenue of $141.16 million for the quarter, compared to the consensus estimate of $675.11 million. On average, analysts forecast that StoneCo will post 2.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other StoneCo news, Director Silvio Jose Morais sold 9,000 shares of StoneCo stock in a transaction on Friday, June 12th. The shares were sold at an average price of $11.29, for a total value of $101,610.00. Following the completion of the transaction, the director owned 21,000 shares of the company’s stock, valued at approximately $237,090. The trade was a 30.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of StoneCo by 11,473.3% during the fourth quarter. Blue Trust Inc. now owns 1,736 shares of the company’s stock valued at $26,000 after acquiring an additional 1,721 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of StoneCo in the fourth quarter worth about $28,000. Rockefeller Capital Management L.P. lifted its stake in shares of StoneCo by 74.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,199 shares of the company’s stock worth $33,000 after buying an additional 936 shares in the last quarter. Versant Capital Management Inc boosted its position in StoneCo by 54.4% during the second quarter. Versant Capital Management Inc now owns 3,032 shares of the company’s stock worth $33,000 after acquiring an additional 1,068 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new position in StoneCo during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 73.19% of the company’s stock.

StoneCo Company Profile

StoneCo Ltd., commonly known as Stone, is a Brazilian financial technology company that provides integrated digital payment solutions and related financial services to merchants. Through its cloud-based platform, Stone enables businesses of all sizes to accept a variety of payment methods, including point-of-sale (POS) terminals, mobile card readers and e-commerce gateways. In addition to payment acceptance, the company offers value-added services such as working capital loans, digital banking products and automated billing tools designed to help merchants manage cash flow and streamline operations.

Since its founding in 2012 by André Street and Eduardo Pontes, Stone has focused on serving over half a million merchants across Brazil’s retail, restaurant and services sectors.