Wasatch Advisors LP Sells 5,120,349 Shares of Nu Holdings Ltd. (NYSE:NU)

Wasatch Advisors LP lowered its position in Nu Holdings Ltd. (NYSE:NU) by 21.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,828,865 shares of the company’s stock after selling 5,120,349 shares during the period. NU comprises 1.2% of Wasatch Advisors LP’s holdings, making the stock its 29th largest position. Wasatch Advisors LP’s holdings in NU were worth $224,628,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in NU by 179.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,841 shares of the company’s stock valued at $105,000 after buying an additional 5,672 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of NU during the first quarter worth $822,000. Cornerstone Wealth Group LLC lifted its position in NU by 8.8% in the 1st quarter. Cornerstone Wealth Group LLC now owns 37,683 shares of the company’s stock valued at $450,000 after acquiring an additional 3,038 shares in the last quarter. Artemis Investment Management LLP boosted its stake in NU by 4.9% in the 1st quarter. Artemis Investment Management LLP now owns 325,736 shares of the company’s stock worth $3,884,000 after purchasing an additional 15,219 shares during the period. Finally, Powell Investment Advisors LLC bought a new position in NU during the 1st quarter worth about $119,000. Institutional investors and hedge funds own 80.90% of the company’s stock.

NU Stock Performance

NU remained flat at $12.36 during trading on Tuesday. 18,901,135 shares of the company were exchanged, compared to its average volume of 29,543,072. The company has a market cap of $58.91 billion, a PE ratio of 47.54, a P/E/G ratio of 0.61 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.40 and a current ratio of 0.40. The business’s fifty day moving average price is $11.78 and its 200 day moving average price is $10.76. Nu Holdings Ltd. has a fifty-two week low of $6.61 and a fifty-two week high of $13.01.

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

Analyst Ratings Changes

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

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.