Freedom Investment Management Inc. Acquires 5,877 Shares of StoneCo Ltd. (NASDAQ:STNE)

Freedom Investment Management Inc. boosted its holdings in shares of StoneCo Ltd. (NASDAQ:STNE) by 22.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,510 shares of the company’s stock after acquiring an additional 5,877 shares during the period. Freedom Investment Management Inc.’s holdings in StoneCo were worth $355,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Financial Perspectives Inc lifted its holdings in shares of StoneCo by 8.4% during the second quarter. Financial Perspectives Inc now owns 14,019 shares of the company’s stock valued at $168,000 after purchasing an additional 1,083 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in StoneCo by 9.8% in the third quarter. Thrivent Financial for Lutherans now owns 19,877 shares of the company’s stock worth $224,000 after acquiring an additional 1,773 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in StoneCo by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 123,275 shares of the company’s stock worth $1,478,000 after acquiring an additional 1,848 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of StoneCo by 90.2% in the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after acquiring an additional 2,275 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of StoneCo during the first quarter valued at $41,000. Institutional investors own 73.19% of the company’s stock.

StoneCo Price Performance

NASDAQ STNE opened at $9.48 on Friday. 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 stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 0.37 and a beta of 2.29. The business’s fifty day moving average price is $10.87 and its 200-day moving average price is $12.29.

Analyst Ratings Changes

STNE has been the topic of a number of analyst reports. Barclays dropped their price target on shares of StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. UBS Group increased their price target on shares of StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Morgan Stanley restated an “underweight” rating and issued a $7.00 price objective (down from $16.50) on shares of StoneCo in a 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 research note on Wednesday, November 13th. Finally, Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, StoneCo presently has an average rating of “Moderate Buy” and an average price target of $16.89.

StoneCo Company 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.