Sumitomo Mitsui Trust Group Inc. Has $19.03 Million Stock Holdings in StoneCo Ltd. (NASDAQ:STNE)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of StoneCo Ltd. (NASDAQ:STNE) by 37.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,689,839 shares of the company’s stock after buying an additional 457,856 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.55% of StoneCo worth $19,028,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Point72 Asset Management L.P. increased its holdings in StoneCo by 10.2% during the second quarter. Point72 Asset Management L.P. now owns 8,386,945 shares of the company’s stock worth $100,559,000 after buying an additional 779,445 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of StoneCo by 3.5% in the first quarter. Vanguard Group Inc. now owns 2,636,619 shares of the company’s stock worth $43,794,000 after acquiring an additional 88,256 shares during the last quarter. Creative Planning increased its stake in shares of StoneCo by 224.9% in the third quarter. Creative Planning now owns 65,321 shares of the company’s stock valued at $736,000 after buying an additional 45,218 shares during the period. Coronation Fund Managers Ltd. increased its stake in shares of StoneCo by 4.6% in the second quarter. Coronation Fund Managers Ltd. now owns 2,562,394 shares of the company’s stock valued at $30,723,000 after buying an additional 113,656 shares during the period. Finally, Point72 DIFC Ltd increased its position in StoneCo by 123.4% during the 2nd quarter. Point72 DIFC Ltd now owns 251,993 shares of the company’s stock valued at $3,021,000 after purchasing an additional 139,182 shares during the period. 73.19% of the stock is currently owned by institutional investors and hedge funds.

StoneCo Trading Down 1.1 %

Shares of STNE opened at $9.76 on Monday. The business has a 50-day moving average of $11.27 and a 200 day moving average of $12.70. StoneCo Ltd. has a fifty-two week low of $9.61 and a fifty-two week high of $19.46. The firm has a market cap of $3.02 billion, a P/E ratio of 7.63, a price-to-earnings-growth ratio of 0.34 and a beta of 2.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.36 and a current ratio of 1.42.

Analyst Ratings Changes

A number of research firms have weighed in on STNE. Morgan Stanley reissued an “underweight” rating and set a $7.00 target price (down previously from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. Susquehanna cut their target price on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a report on Wednesday, November 13th. Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. UBS Group raised their price objective on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Barclays dropped their price objective on StoneCo from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, StoneCo currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

About StoneCo

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.