Bank of New York Mellon Corp Sells 455,076 Shares of Nu Holdings Ltd. $NU

Bank of New York Mellon Corp trimmed its holdings in Nu Holdings Ltd. (NYSE:NU) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,792,684 shares of the company’s stock after selling 455,076 shares during the period. Bank of New York Mellon Corp owned approximately 0.16% of NU worth $124,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NU. Janney Montgomery Scott LLC raised its stake in shares of NU by 62.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 124,801 shares of the company’s stock valued at $1,712,000 after purchasing an additional 47,910 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in NU by 17.0% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,309 shares of the company’s stock valued at $265,000 after buying an additional 2,809 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of NU during the second quarter valued at about $36,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of NU by 2,221.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 615,585 shares of the company’s stock worth $8,446,000 after buying an additional 589,065 shares in the last quarter. Finally, Fortis Capital Advisors LLC bought a new position in shares of NU in the second quarter valued at approximately $648,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Stock Performance

Shares of NYSE NU opened at $17.74 on Friday. The stock’s 50-day moving average is $17.09 and its 200 day moving average is $15.53. The stock has a market cap of $85.48 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 0.61 and a beta of 1.08. Nu Holdings Ltd. has a 1-year low of $9.01 and a 1-year high of $18.98. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29.

NU (NYSE:NU) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $3.96 billion. NU had a net margin of 17.97% and a return on equity of 30.12%. On average, sell-side analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of NU in a research note on Wednesday, October 8th. Susquehanna raised their price target on NU from $19.00 to $22.00 and gave the company a “positive” rating in a report on Tuesday. KeyCorp boosted their price objective on NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. UBS Group upped their price objective on shares of NU from $16.00 to $18.40 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 target price on shares of NU in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.34.

About NU

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.