Wedbush Securities Inc. Reduces Stock Position in Nu Holdings Ltd. $NU

Wedbush Securities Inc. cut its holdings in Nu Holdings Ltd. (NYSE:NU) by 73.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,388 shares of the company’s stock after selling 47,247 shares during the period. Wedbush Securities Inc.’s holdings in NU were worth $278,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Jordan Park Group LLC increased its stake in NU by 129.3% during the third quarter. Jordan Park Group LLC now owns 1,958,842 shares of the company’s stock worth $31,000 after acquiring an additional 1,104,421 shares during the last quarter. Quaker Wealth Management LLC boosted its holdings in shares of NU by 212.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock worth $32,000 after purchasing an additional 4,341 shares during the period. Allworth Financial LP increased its position in shares of NU by 166.6% during the 2nd quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock valued at $35,000 after purchasing an additional 1,601 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in NU during the 2nd quarter valued at $38,000. Finally, FNY Investment Advisers LLC lifted its position in NU by 334,100.0% in the second quarter. FNY Investment Advisers LLC now owns 3,342 shares of the company’s stock worth $45,000 after buying an additional 3,341 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

Wall Street Analyst Weigh In

NU has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of NU from $16.00 to $18.40 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Zacks Research raised NU from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. KeyCorp increased their price target on NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Santander upgraded NU from a “neutral” rating to an “outperform” rating in a report on Thursday, December 4th. Finally, JPMorgan Chase & Co. increased their target price on NU from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.34.

NU Price Performance

Shares of NU stock opened at $16.83 on Tuesday. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month 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. The stock has a fifty day simple moving average of $17.14 and a two-hundred day simple moving average of $15.89. The stock has a market capitalization of $81.12 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 0.55 and a beta of 1.08.

NU 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.