New York State Common Retirement Fund Has $8.91 Million Position in StoneCo Ltd (NASDAQ:STNE)

New York State Common Retirement Fund lowered its stake in StoneCo Ltd (NASDAQ:STNE) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,751 shares of the company’s stock after selling 17,500 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of StoneCo worth $8,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Foxhaven Asset Management LP acquired a new stake in StoneCo during the 4th quarter worth about $24,360,000. Norges Bank bought a new stake in StoneCo during the fourth quarter worth approximately $16,539,000. Apoletto Ltd bought a new stake in StoneCo during the fourth quarter worth approximately $12,727,000. BlackRock Inc. bought a new stake in shares of StoneCo in the fourth quarter valued at approximately $11,810,000. Finally, Gladstone Capital Management LLP bought a new stake in shares of StoneCo in the fourth quarter valued at approximately $7,737,000. 37.19% of the stock is owned by institutional investors.

STNE traded up $0.78 during midday trading on Friday, reaching $29.58. 1,932,458 shares of the company were exchanged, compared to its average volume of 2,918,211. StoneCo Ltd has a one year low of $16.14 and a one year high of $45.62. The firm has a market cap of $8.20 billion and a PE ratio of 89.64. The company’s 50-day simple moving average is $27.28.

StoneCo (NASDAQ:STNE) last issued its earnings results on Monday, May 13th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. The company had revenue of $142.17 million for the quarter. Analysts expect that StoneCo Ltd will post 0.81 earnings per share for the current fiscal year.

Several research analysts have issued reports on the company. Citigroup set a $27.00 price objective on StoneCo and gave the stock a “hold” rating in a research note on Friday, May 31st. Zacks Investment Research lowered StoneCo from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21st. Bank of America raised their target price on StoneCo from $26.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. HSBC assumed coverage on StoneCo in a research note on Tuesday, May 7th. They issued a “reduce” rating and a $20.00 target price for the company. Finally, Morgan Stanley restated an “overweight” rating and issued a $47.00 target price (up from $35.00) on shares of StoneCo in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.13.

About StoneCo

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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Institutional Ownership by Quarter for StoneCo (NASDAQ:STNE)

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