Squadra Investments Gestao DE Recursos LTDA., a Brazilian investment firm, has purchased 622,954 shares of StoneCo Ltd. (NASDAQ:STNE), according to a recent 13F filing with the Securities & Exchange Commission. The investment is valued at approximately $11,232,000. StoneCo accounts for 2.3% of Squadra Investments Gestao DE Recursos LTDA.'s investment portfolio, making it their third largest position. Other institutional investors and hedge funds have also increased their stakes in StoneCo. StoneCo is a financial technology and software solutions provider for merchants and integrated partners in Brazil. The company offers solutions for electronic commerce across in-store, online, and mobile channels. StoneCo has a market capitalization of $5.29 billion and a PE ratio of 16.66. The stock has a 50-day moving average of $17.01 and a 200-day moving average of $14.95. StoneCo's stock price reached $16.83 on Friday. [d2188e60]