Nu Holdings Ltd. (NYSE:NU) Shares Sold by Deepwater Asset Management LLC

Deepwater Asset Management LLC reduced its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,325,821 shares of the company’s stock after selling 314,910 shares during the period. NU makes up approximately 6.0% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Deepwater Asset Management LLC’s holdings in NU were worth $15,817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sands Capital Management LLC lifted its position in NU by 92.7% during the fourth quarter. Sands Capital Management LLC now owns 85,220,661 shares of the company’s stock valued at $709,888,000 after purchasing an additional 40,992,413 shares during the period. Jennison Associates LLC raised its position in shares of NU by 160.9% in the fourth quarter. Jennison Associates LLC now owns 65,813,072 shares of the company’s stock worth $548,223,000 after acquiring an additional 40,584,189 shares during the period. Capital Research Global Investors raised its position in shares of NU by 20.7% in the fourth quarter. Capital Research Global Investors now owns 175,197,344 shares of the company’s stock worth $1,459,403,000 after acquiring an additional 30,002,685 shares during the period. Norges Bank acquired a new position in shares of NU in the fourth quarter worth about $209,534,000. Finally, Sharp Capital Gestora de Recursos Ltda. acquired a new position in shares of NU in the fourth quarter worth about $90,633,000. 80.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NU has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of NU from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. TheStreet raised shares of NU from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Susquehanna upped their price objective on shares of NU from $12.00 to $14.00 and gave the company a “positive” rating in a research note on Wednesday, May 15th. Barclays started coverage on shares of NU in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $15.00 price target for the company. Finally, Jefferies Financial Group increased their price target on shares of NU from $10.80 to $15.20 and gave the company a “buy” rating in a research note on Monday, June 24th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.70.

NU Trading Down 0.5 %

Shares of NU stock traded down $0.06 during trading hours on Tuesday, hitting $12.30. The company had a trading volume of 9,609,332 shares, compared to its average volume of 29,469,346. The company’s fifty day moving average is $11.75 and its 200 day moving average is $10.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.40 and a quick ratio of 0.40. Nu Holdings Ltd. has a fifty-two week low of $6.61 and a fifty-two week high of $13.01. The stock has a market capitalization of $58.62 billion, a PE ratio of 47.58, a price-to-earnings-growth ratio of 0.61 and a beta of 1.14.

NU (NYSE:NU) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.58 billion. NU had a net margin of 13.86% and a return on equity of 22.94%. Research analysts expect that Nu Holdings Ltd. will post 0.41 earnings per share for the current fiscal year.

About NU

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.