Parisi Gray Wealth Management acquired a new position in shares of StoneCo Ltd (NASDAQ:STNE) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 2,388 shares of the company’s stock, valued at approximately $102,000.
A number of other institutional investors have also modified their holdings of STNE. Partner Investment Management L.P. bought a new position in StoneCo during the fourth quarter worth about $42,000. Kwmg LLC bought a new position in StoneCo during the first quarter worth about $45,000. Victory Capital Management Inc. bought a new position in StoneCo during the fourth quarter worth about $46,000. Intellectus Partners LLC bought a new position in StoneCo during the fourth quarter worth about $104,000. Finally, Zimmer Partners LP bought a new position in StoneCo during the fourth quarter worth about $184,000. 37.19% of the stock is currently owned by institutional investors and hedge funds.
STNE stock traded down $0.51 during mid-day trading on Friday, hitting $28.03. 14,896 shares of the company were exchanged, compared to its average volume of 1,972,184. The company has a market capitalization of $7.74 billion and a PE ratio of 84.91. StoneCo Ltd has a 1-year low of $16.14 and a 1-year high of $45.62.
A number of equities analysts recently commented on STNE shares. Goldman Sachs Group started coverage on StoneCo in a report on Monday. They set a “buy” rating and a $37.00 price target for the company. Zacks Investment Research upgraded StoneCo from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Friday, March 22nd. Bank of America lifted their price target on StoneCo from $26.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Citigroup set a $27.00 price target on StoneCo and gave the stock a “hold” rating in a report on Friday, May 31st. Finally, Susquehanna Bancshares started coverage on StoneCo in a report on Friday, May 31st. They set a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $34.29.
StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.
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