250,742 Nu Holdings Ltd. $NU Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lessened its holdings in Nu Holdings Ltd. (NYSE:NU) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,857,526 shares of the company’s stock after selling 250,742 shares during the quarter. Salem Investment Counselors Inc.’s holdings in NU were worth $23,516,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in shares of NU by 8.6% in the 1st quarter. Bank of America Corp DE now owns 45,966,932 shares of the company’s stock worth $660,545,000 after buying an additional 3,656,945 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in NU by 17.9% during the first quarter. Assenagon Asset Management S.A. now owns 32,535,091 shares of the company’s stock worth $467,529,000 after acquiring an additional 4,944,618 shares during the period. Maverick Capital Ltd. lifted its holdings in NU by 91.6% in the first quarter. Maverick Capital Ltd. now owns 22,444,311 shares of the company’s stock worth $322,525,000 after acquiring an additional 10,729,747 shares during the last quarter. Squadra Investments Gestao DE Recursos LTDA. lifted its holdings in NU by 266.8% in the first quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company’s stock worth $320,631,000 after acquiring an additional 16,229,515 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in NU by 48.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,979,529 shares of the company’s stock worth $272,736,000 after acquiring an additional 6,159,298 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

NU Stock Performance

Shares of NYSE NU opened at $15.60 on Wednesday. The stock has a fifty day moving average price of $14.45 and a two-hundred day moving average price of $13.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $75.73 billion, a P/E ratio of 21.08, a PEG ratio of 0.65 and a beta of 0.95. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98.

NU (NYSE:NU) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.22 EPS for the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. The firm had revenue of $5.88 billion for the quarter. Research analysts forecast that Nu Holdings Ltd. will post 0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NU shares. UBS Group boosted their price objective on NU from $16.90 to $18.20 and gave the company a “buy” rating in a research report on Thursday, August 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of NU in a research report on Monday, September 28th. Susquehanna raised their target price on NU from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Rothschild & Co Redburn set a $19.00 price target on shares of NU in a report on Monday, September 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of NU from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 6th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.94.

Insider Activity at NU

In related news, CEO Cristina Junqueira sold 25,000 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $15.01, for a total value of $375,250.00. Following the completion of the sale, the chief executive officer directly owned 4,877,593 shares of the company’s stock, valued at approximately $73,212,670.93. This represents a 0.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $15.81, for a total value of $3,505,187.67. Following the sale, the insider owned 979,446 shares of the company’s stock, valued at $15,485,041.26. The trade was a 18.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 386,707 shares of company stock valued at $6,001,588.

About NU

Nu Holdings Ltd., operating under the Nubank brand, is a digital financial services company that provides banking and payment products primarily through mobile applications. The company offers digital accounts, credit cards, personal loans, payment services, investment products and insurance, serving consumers and small businesses.

Nubank was founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible with the goal of expanding access to simpler, lower-cost financial services through technology.