Myriad Asset Management US LP Lowers Holdings in Nu Holdings Ltd. $NU

Myriad Asset Management US LP reduced its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 66.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,738 shares of the company’s stock after selling 85,522 shares during the period. NU makes up approximately 1.2% of Myriad Asset Management US LP’s portfolio, making the stock its 19th biggest holding. Myriad Asset Management US LP’s holdings in NU were worth $715,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Jordan Park Group LLC boosted its stake in shares of NU by 129.3% in the third quarter. Jordan Park Group LLC now owns 1,958,842 shares of the company’s stock worth $31,000 after buying an additional 1,104,421 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in NU by 63.5% during the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock valued at $52,000 after acquiring an additional 1,464 shares in the last quarter. VSM Wealth Advisory LLC raised its position in NU by 1,000.0% during the third quarter. VSM Wealth Advisory LLC now owns 3,300 shares of the company’s stock valued at $53,000 after acquiring an additional 3,000 shares in the last quarter. Allworth Financial LP lifted its holdings in NU by 36.1% in the third quarter. Allworth Financial LP now owns 3,488 shares of the company’s stock valued at $56,000 after acquiring an additional 926 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in NU by 22.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,394 shares of the company’s stock valued at $74,000 after acquiring an additional 802 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Insider Buying and Selling

In related news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total value of $4,443,000.00. Following the completion of the sale, the chief executive officer owned 2,312,338 shares of the company’s stock, valued at approximately $34,245,725.78. The trade was a 11.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NU. UBS Group raised shares of NU from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $17.20 to $17.60 in a research note on Thursday, March 19th. The Goldman Sachs Group reiterated a “buy” rating and issued a $21.00 target price on shares of NU in a research note on Thursday, December 18th. Weiss Ratings raised shares of NU from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Zacks Research lowered shares of NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Finally, Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a report on Tuesday, March 17th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.26.

NU Stock Performance

Shares of NU stock opened at $14.15 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.39. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $18.98. The business’s 50 day moving average is $15.78 and its two-hundred day moving average is $16.11. The company has a market capitalization of $68.20 billion, a P/E ratio of 24.40, a P/E/G ratio of 0.55 and a beta of 1.10.

NU (NYSE:NU) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. NU had a return on equity of 30.68% and a net margin of 18.19%.The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.55 billion. Analysts expect that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

NU Company Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.