Zacks Investment Research downgraded shares of StoneCo (NASDAQ:STNE) from a buy rating to a hold rating in a report published on Thursday morning.

According to Zacks, “StoneCo Ltd. provides financial technology solutions. The Company offers end-to-end cloud-based technology platform to conduct electronic commerce, across in-store, online and mobile channels. StoneCo Ltd. is based in Sao Paulo, Brazil. “

Several other research firms have also recently weighed in on STNE. JPMorgan Chase & Co. began coverage on StoneCo in a research note on Monday, November 19th. They issued a neutral rating and a $25.00 price target for the company. Goldman Sachs Group assumed coverage on StoneCo in a research note on Monday, November 19th. They issued a neutral rating and a $25.60 price target for the company. Citigroup assumed coverage on StoneCo in a research report on Monday, November 19th. They set a buy rating and a $30.00 price objective for the company. Finally, Bank of America assumed coverage on StoneCo in a research report on Monday, January 14th. They set a buy rating and a $26.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $26.12.

STNE stock opened at $32.51 on Thursday. StoneCo has a 1-year low of $16.14 and a 1-year high of $34.50.

A number of institutional investors have recently bought and sold shares of the stock. Foxhaven Asset Management LP purchased a new stake in StoneCo during the fourth quarter valued at $24,360,000. Norges Bank purchased a new stake in StoneCo during the fourth quarter valued at $16,539,000. Apoletto Ltd purchased a new stake in StoneCo during the fourth quarter valued at $12,727,000. Pelham Global Financials Ltd. purchased a new stake in StoneCo during the fourth quarter valued at $12,154,000. Finally, BlackRock Inc. purchased a new stake in StoneCo during the fourth quarter valued at $11,810,000. Institutional investors own 32.94% of the company’s stock.

StoneCo Company Profile

StoneCo Ltd. provides financial technology solutions that empower 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.

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