Nu Holdings Ltd. $NU Shares Sold by Ethic Inc.

Ethic Inc. decreased its stake in Nu Holdings Ltd. (NYSE:NU) by 59.7% in the 2nd quarter, Holdings Channel reports. The firm owned 75,985 shares of the company’s stock after selling 112,336 shares during the quarter. Ethic Inc.’s holdings in NU were worth $1,007,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NU. GAMMA Investing LLC raised its position in NU by 111.9% during the first quarter. GAMMA Investing LLC now owns 7,050 shares of the company’s stock worth $72,000 after acquiring an additional 3,723 shares during the last quarter. Janney Montgomery Scott LLC raised its position in NU by 463.3% during the first quarter. Janney Montgomery Scott LLC now owns 76,891 shares of the company’s stock worth $787,000 after acquiring an additional 63,241 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in NU by 12.7% during the first quarter. Oppenheimer & Co. Inc. now owns 66,983 shares of the company’s stock worth $686,000 after acquiring an additional 7,556 shares during the last quarter. Asset Management One Co. Ltd. raised its position in NU by 15.9% during the first quarter. Asset Management One Co. Ltd. now owns 505,540 shares of the company’s stock worth $5,177,000 after acquiring an additional 69,442 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in NU by 2.2% during the first quarter. Bessemer Group Inc. now owns 144,919 shares of the company’s stock worth $1,484,000 after acquiring an additional 3,059 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NU shares. UBS Group lifted their target price on shares of NU from $15.60 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Bank of America lifted their target price on shares of NU from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Bradesco Corretora upgraded shares of NU to an “outperform” rating and set a $17.00 target price for the company in a research report on Monday, August 25th. JPMorgan Chase & Co. boosted their price objective on shares of NU from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Finally, Itau BBA Securities raised shares of NU from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research report on Monday, August 18th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.10.

NU Stock Performance

NYSE:NU opened at $15.86 on Monday. The firm has a 50 day simple moving average of $15.17 and a 200-day simple moving average of $13.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market cap of $76.40 billion, a PE ratio of 34.47, a P/E/G ratio of 0.82 and a beta of 1.08. Nu Holdings Ltd. has a 1-year low of $9.01 and a 1-year high of $16.42.

NU (NYSE:NU) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.78 billion. NU had a net margin of 17.90% and a return on equity of 29.91%. During the same quarter in the previous year, the business posted $0.12 earnings per share. On average, equities analysts expect that Nu Holdings Ltd. will post 0.58 EPS for the current year.

NU Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.