Prospera Financial Services Inc Sells 28,966 Shares of StoneCo Ltd. (NASDAQ:STNE)

Prospera Financial Services Inc decreased its stake in shares of StoneCo Ltd. (NASDAQ:STNE) by 73.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,702 shares of the company’s stock after selling 28,966 shares during the period. Prospera Financial Services Inc’s holdings in StoneCo were worth $121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 valued at $43,794,000 after purchasing an additional 88,256 shares during the period. Axxcess Wealth Management LLC bought a new position in shares of StoneCo during the 1st quarter worth $187,000. Lazard Asset Management LLC purchased a new position in shares of StoneCo during the first quarter valued at $41,000. Price T Rowe Associates Inc. MD raised its holdings in shares of StoneCo by 15.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 83,619 shares of the company’s stock valued at $1,389,000 after acquiring an additional 11,154 shares in the last quarter. Finally, Beck Bode LLC lifted its stake in StoneCo by 42.7% in the first quarter. Beck Bode LLC now owns 347,024 shares of the company’s stock worth $5,764,000 after acquiring an additional 103,819 shares during the period. Institutional investors own 73.19% of the company’s stock.

StoneCo Stock Up 6.2 %

Shares of STNE stock opened at $10.90 on Tuesday. The stock’s fifty day moving average price is $11.02 and its 200 day moving average price is $12.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42. StoneCo Ltd. has a 1-year low of $9.06 and a 1-year high of $19.46. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 0.36 and a beta of 2.29.

Analysts Set New Price Targets

A number of research firms have commented 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. Cantor Fitzgerald raised shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. UBS Group increased their target price on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Susquehanna reduced their price target on StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a research report on Wednesday, November 13th. Finally, Barclays decreased their price objective on StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, StoneCo presently has a consensus rating of “Moderate Buy” and an average price target of $16.89.

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.