Nu Holdings Ltd. $NU Shares Sold by ICONIQ Capital LLC

ICONIQ Capital LLC cut its stake in Nu Holdings Ltd. (NYSE:NU) by 87.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 563,570 shares of the company’s stock after selling 4,029,823 shares during the period. ICONIQ Capital LLC’s holdings in NU were worth $9,023,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NU. Clough Capital Partners L P acquired a new stake in shares of NU in the 3rd quarter worth approximately $808,000. Capula Management Ltd purchased a new position in NU in the 3rd quarter valued at approximately $1,598,000. Avala Global LP raised its holdings in NU by 229.4% during the third quarter. Avala Global LP now owns 4,810,600 shares of the company’s stock worth $77,018,000 after purchasing an additional 3,350,300 shares during the last quarter. Bamco Inc. NY raised its holdings in NU by 21.7% during the third quarter. Bamco Inc. NY now owns 1,738,774 shares of the company’s stock worth $27,838,000 after purchasing an additional 310,365 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in NU by 9.6% during the third quarter. California Public Employees Retirement System now owns 5,761,091 shares of the company’s stock worth $92,235,000 after purchasing an additional 505,419 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on NU shares. UBS Group lowered their target price on NU from $18.40 to $17.20 and set a “neutral” rating on the stock in a report on Wednesday, March 4th. Susquehanna boosted their price objective on shares of NU from $19.00 to $22.00 and gave the stock a “positive” rating in a research report on Tuesday, January 27th. Zacks Research raised shares of NU from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. JPMorgan Chase & Co. raised their target price on shares of NU from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Finally, The Goldman Sachs Group restated 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, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.22.

NU Price Performance

Shares of NYSE:NU opened at $13.88 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.56 and a current ratio of 0.58. The business’s fifty day moving average price is $16.71 and its two-hundred day moving average price is $16.23. The stock has a market cap of $66.86 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11. Nu Holdings Ltd. has a one year low of $9.01 and a one year high of $18.98.

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

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.