Summary by Moomoo AI
On August 31, 2024, BlackRock, Inc., a Delaware-based investment management corporation, filed an amended Schedule 13G with the Securities and Exchange Commission (SEC), disclosing a 10.6% ownership stake in StoneCo Ltd., a provider of financial technology solutions. The filing, which indicates BlackRock's beneficial ownership of 31,182,375 shares of StoneCo's common stock, is a regulatory requirement under the Securities Exchange Act of 1934, signifying a passive investment position. BlackRock's filing under Rule 13d-1(b) suggests that the shares were acquired in the ordinary course of business and not for the purpose of changing or influencing the control of StoneCo. The filing also includes a list of BlackRock subsidiaries and a power of attorney, designating certain individuals as authorized representatives for compliance with SEC reporting requirements.
