American Century Companies Inc. invests $23.48M in StoneCo Ltd. (NASDAQ:STNE)

American Century Companies Inc. purchased a new stake in StoneCo Ltd. (NASDAQ:STNE – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,958,543 shares of the company’s stock, valued at approximately $23,483,000. American Century Companies Inc. owned about 0.62% of StoneCo as of its most recent SEC filing.

Several other hedge funds have added to or reduced their stakes in the business. Headlands Technologies LLC grew its position in shares of StoneCo by 4,873.2% during the second quarter. Headlands Technologies LLC now owns 44,013 shares of the company’s stock worth $528,000 after buying an additional 43,128 shares during the period. Custom Index Systems LLC purchased a new stake in StoneCo during the second quarter valued at about $262,000. JGP Global Gestao de Recursos Ltda. raised its stake in StoneCo by 91.1% in the second quarter. JGP Global Gestao de Recursos Ltda. now owns 2,024,080 shares of the company’s stock valued at $24,269,000 after purchasing an additional 964,880 shares during the last quarter. Constellation Investimentos e Participacoes Ltda boosted its holdings in shares of StoneCo by 57.6% in the second quarter. Constellation Investimentos e Participacoes Ltda now owns 2,344,327 shares of the company’s stock valued at $28,108,000 after buying an additional 856,552 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of StoneCo by 1.3% during the second quarter. Rhumbline Advisers now owns 432,880 shares of the company’s stock worth $5,190,000 after acquiring an additional 5,691 shares in the last quarter. Institutional investors and hedge funds own 73.19% of the company’s shares.

Analysts set new price targets

Several equities research analysts recently commented on the stock. Morgan Stanley restated 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. UBS Group upped 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. Goldman Sachs Group dropped their target price on StoneCo from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Barclays cut their price target on shares of StoneCo from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, Evercore ISI cut their price objective on shares of StoneCo from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th . One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.80.

Check out the latest stock report on StoneCo

StoneCo price performance

Shares of STNE opened at $12.35 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36, and a debt-to-equity ratio of 0.41. The company’s fifty-day simple moving average is $13.03, and its 200-day simple moving average is $14.27. StoneCo Ltd. has a 1 year low of $9.34 and a 1 year high of $19.46. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.44 and a beta of 2.31.

StoneCo (NASDAQ:STNE – Get Your Free Report ) last posted its earnings results on Wednesday, August 14th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). StoneCo had a net margin of 15.27% and a return on equity of 13.21%. The firm had revenue of $615.13 million during the quarter, compared to the consensus estimate of $590.74 million. On average, research analysts predict that StoneCo Ltd. will post 1.1 earnings per share for the current fiscal year.

About StoneCo

(Free report)

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct e-commerce across in-store, online and mobile channels in Brazil. It distributes its solutions primarily through proprietary Stone Hubs that provide hyper-local sales and service; and sell solutions to physical and digital merchants through the sales team.

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