The Goldman Sachs Group cut shares of StoneCo (NASDAQ:STNE – Get Rating) from a neutral rating to a sell rating in a report published on Tuesday, Marketbeat Ratings reports. The firm currently has $7.80 price target on the stock, down from their previous price target of $9.80.

Several other brokerages have also issued reports on STNE. Susquehanna Bancshares dropped their target price on StoneCo from $28.00 to $20.00 in a research report on Monday, July 11th. Wells Fargo & Company reduced their price objective on shares of StoneCo from $11.00 to $10.00 and set an equal weight rating for the company in a research note on Friday, August 19th. Finally, Susquehanna dropped their price objective on shares of StoneCo from $28.00 to $20.00 in a report on Monday, July 11th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $16.63.

StoneCo Stock Performance

Shares of STNE opened at $8.74 on Tuesday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -4.99 and a beta of 2.34. StoneCo has a 12 month low of $6.81 and a 12 month high of $44.89. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $9.58 and its two-hundred day simple moving average is $9.90.

Institutional Trading of StoneCo

Several large investors have recently modified their holdings of STNE. National Bank of Canada FI grew its position in shares of StoneCo by 75.8% in the first quarter. National Bank of Canada FI now owns 3,480 shares of the company's stock valued at $41,000 after purchasing an additional 1,500 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of StoneCo by 33.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 6,665 shares of the company's stock valued at $51,000 after purchasing an additional 1,684 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of StoneCo in the 1st quarter valued at about $60,000. AdvisorNet Financial Inc bought a new stake in shares of StoneCo during the 1st quarter valued at about $66,000. Finally, Tortoise Index Solutions LLC grew its position in shares of StoneCo by 13.2% during the 2nd quarter. Tortoise Index Solutions LLC now owns 9,019 shares of the company's stock valued at $69,000 after buying an additional 1,053 shares during the last quarter. 59.69% of the stock is owned by institutional investors and hedge funds.

About StoneCo

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StoneCo Ltd. provides financial technology 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 technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.

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