StoneCo Ltd (NASDAQ:STNE)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $27.02, but opened at $26.39. StoneCo shares last traded at $25.58, with a volume of 4438383 shares traded.
A number of equities analysts recently commented on STNE shares. HSBC started coverage on shares of StoneCo in a research note on Tuesday, May 7th. They set a “reduce” rating and a $20.00 target price for the company. Citigroup downgraded shares of StoneCo from a “buy” rating to a “neutral” rating in a research note on Friday, April 5th. Zacks Investment Research upgraded shares of StoneCo from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Wednesday, February 13th. Morgan Stanley reiterated an “overweight” rating and set a $47.00 target price (up previously from $35.00) on shares of StoneCo in a research note on Thursday, March 21st. Finally, Susquehanna Bancshares assumed coverage on shares of StoneCo in a research note on Friday. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. StoneCo has a consensus rating of “Hold” and a consensus target price of $33.09.
The company has a market cap of $6.98 billion and a PE ratio of 76.36.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Partner Investment Management L.P. acquired a new position in StoneCo in the fourth quarter valued at $42,000. Kwmg LLC acquired a new position in StoneCo in the first quarter valued at $45,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in StoneCo by 266.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,100 shares of the company’s stock valued at $45,000 after acquiring an additional 800 shares in the last quarter. Victory Capital Management Inc. acquired a new position in StoneCo in the fourth quarter valued at $46,000. Finally, Parisi Gray Wealth Management acquired a new position in StoneCo in the first quarter valued at $102,000. Institutional investors own 37.19% of the company’s stock.
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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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