WCM Investment Management LLC Sells 21,880,446 Shares of Nu Holdings Ltd. (NYSE:NU)

WCM Investment Management LLC reduced its position in Nu Holdings Ltd. (NYSE:NU) by 21.9% in the 4th quarter, Holdings Channel reports. The firm owned 78,151,351 shares of the company’s stock after selling 21,880,446 shares during the quarter. NU comprises approximately 2.0% of WCM Investment Management LLC’s investment portfolio, making the stock its 20th biggest position. WCM Investment Management LLC’s holdings in NU were worth $832,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Piscataqua Savings Bank lifted its position in NU by 500.0% in the fourth quarter. Piscataqua Savings Bank now owns 3,000 shares of the company’s stock worth $31,000 after purchasing an additional 2,500 shares during the period. Carolina Wealth Advisors LLC bought a new position in NU in the third quarter worth $44,000. Toth Financial Advisory Corp bought a new position in NU in the third quarter worth $55,000. GAMMA Investing LLC lifted its holdings in shares of NU by 81.9% during the third quarter. GAMMA Investing LLC now owns 4,119 shares of the company’s stock valued at $56,000 after acquiring an additional 1,855 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of NU by 86.3% during the third quarter. Huntington National Bank now owns 4,601 shares of the company’s stock valued at $63,000 after acquiring an additional 2,131 shares during the period. 84.02% of the stock is owned by institutional investors.

NU Stock Performance

Shares of NYSE:NU opened at $13.75 on Friday. Nu Holdings Ltd. has a twelve month low of $9.44 and a twelve month high of $16.15. The firm has a market cap of $65.51 billion, a PE ratio of 38.18, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The business has a fifty day moving average of $11.64 and a 200-day moving average of $13.13.

Analysts Set New Price Targets

NU has been the subject of a number of analyst reports. Citigroup cut NU from a “neutral” rating to a “sell” rating and cut their price objective for the company from $14.60 to $11.00 in a report on Monday, December 2nd. Susquehanna lifted their price objective on NU from $16.00 to $18.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Itau BBA Securities cut NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. KeyCorp lifted their price objective on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group lifted their price objective on NU from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.63.

About NU

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.