Independent Advisor Alliance Raises Holdings in StoneCo Ltd. (NASDAQ:STNE)

Independent Advisor Alliance increased its position in StoneCo Ltd. (NASDAQ:STNE) by 23.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 36,295 shares of the company’s stock after purchasing an additional 6,947 shares during the period. Independent Advisor Alliance’s holdings in StoneCo were worth $409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Central Bank & Trust Co. purchased a new stake in StoneCo in the second quarter valued at approximately $40,000. Lazard Asset Management LLC purchased a new stake in StoneCo in the 1st quarter valued at $41,000. Y.D. More Investments Ltd boosted its stake in StoneCo by 90.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after purchasing an additional 2,275 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in StoneCo during the 3rd quarter worth $125,000. Finally, Point72 Hong Kong Ltd acquired a new position in StoneCo in the second quarter valued at $135,000. 73.19% of the stock is owned by hedge funds and other institutional investors.

StoneCo Trading Down 2.7 %

NASDAQ:STNE opened at $10.41 on Friday. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 0.38 and a beta of 2.29. StoneCo Ltd. has a 1 year low of $9.06 and a 1 year high of $19.46. The stock has a fifty day moving average price of $10.95 and a two-hundred day moving average price of $12.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.42 and a current ratio of 1.42.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STNE shares. Barclays decreased their target price on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. UBS Group increased their price objective on StoneCo from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Susquehanna dropped 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 raised StoneCo to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $7.00 price objective (down from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. One equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, StoneCo currently has an average rating of “Moderate Buy” and a consensus price target of $16.89.

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.