Nu Holdings Ltd. (NYSE:NU) Stake Trimmed by Carnegie Investment Counsel

Carnegie Investment Counsel cut its position in shares of Nu Holdings Ltd. (NYSE:NU) by 7.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,279,130 shares of the company’s stock after selling 105,200 shares during the quarter. Carnegie Investment Counsel’s holdings in NU were worth $17,460,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors raised its position in NU by 15.7% during the first quarter. Capital Research Global Investors now owns 202,618,338 shares of the company’s stock valued at $2,417,237,000 after buying an additional 27,420,994 shares during the period. Baillie Gifford & Co. grew its stake in NU by 9.7% during the 2nd quarter. Baillie Gifford & Co. now owns 185,963,035 shares of the company’s stock valued at $2,397,064,000 after acquiring an additional 16,512,911 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of NU by 32.4% in the 1st quarter. Jennison Associates LLC now owns 87,155,886 shares of the company’s stock valued at $1,039,770,000 after purchasing an additional 21,342,814 shares during the period. Whale Rock Capital Management LLC lifted its position in shares of NU by 0.8% in the first quarter. Whale Rock Capital Management LLC now owns 25,004,827 shares of the company’s stock worth $298,308,000 after purchasing an additional 204,305 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of NU by 23.0% during the second quarter. Sei Investments Co. now owns 18,927,977 shares of the company’s stock worth $243,982,000 after purchasing an additional 3,544,124 shares during the period. 80.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NU has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. The Goldman Sachs Group raised their price objective on shares of NU from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Barclays boosted their target price on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Jefferies Financial Group raised their price target on shares of NU from $10.80 to $15.20 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, UBS Group cut shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price objective for the company. in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.74.

NU Trading Up 2.1 %

NU stock opened at $13.71 on Friday. Nu Holdings Ltd. has a 52 week low of $7.68 and a 52 week high of $15.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market capitalization of $65.34 billion, a PE ratio of 44.23, a PEG ratio of 0.61 and a beta of 1.15. The business’s 50-day simple moving average is $13.83 and its 200-day simple moving average is $12.60.

NU (NYSE:NU) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same period in the previous year, the company earned $0.05 earnings per share. Equities research analysts forecast that Nu Holdings Ltd. will post 0.41 earnings per share for the current year.

NU Profile

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.