Hiddenite Capital Partners LP Sells 2,250,000 Shares of Nu Holdings Ltd. $NU

Hiddenite Capital Partners LP lowered its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 75.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 750,000 shares of the company’s stock after selling 2,250,000 shares during the quarter. NU accounts for approximately 1.7% of Hiddenite Capital Partners LP’s portfolio, making the stock its 20th biggest position. Hiddenite Capital Partners LP’s holdings in NU were worth $9,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in NU in the third quarter worth approximately $1,846,000. Vise Technologies Inc. grew its stake in NU by 9.3% in the third quarter. Vise Technologies Inc. now owns 35,196 shares of the company’s stock valued at $446,000 after acquiring an additional 2,996 shares during the period. MGO One Seven LLC increased its holdings in shares of NU by 24.8% during the third quarter. MGO One Seven LLC now owns 20,190 shares of the company’s stock valued at $256,000 after acquiring an additional 4,015 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of NU by 2.5% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 181,000 shares of the company’s stock worth $2,291,000 after purchasing an additional 4,500 shares during the period. Finally, Ashoka WhiteOak Capital Pte Ltd acquired a new position in shares of NU during the third quarter worth approximately $8,178,000. Institutional investors own 84.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Monness Crespi & Hardt began coverage on shares of NU in a research report on Monday, October 26th. They issued a “buy” rating and a $20.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of NU from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 6th. Wolfe Research lowered their price objective on shares of NU from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of NU in a research note on Monday, September 28th. Finally, Rothschild & Co Redburn set a $19.00 price objective on shares of NU in a report on Monday, September 28th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

NU Price Performance

Shares of NYSE:NU opened at $11.62 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. The stock has a market cap of $56.45 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.49 and a beta of 0.95. The stock’s fifty day simple moving average is $14.26 and its two-hundred day simple moving average is $14.46. Nu Holdings Ltd. has a 1-year low of $11.20 and a 1-year high of $18.98.

NU (NYSE:NU) last posted its earnings results on Tuesday, June 30th. The company reported $0.22 EPS for the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. The firm had revenue of $5.88 billion for the quarter. As a group, analysts forecast that Nu Holdings Ltd. will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling at NU

In other NU news, CEO Cristina Junqueira sold 65,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total value of $956,150.00. Following the transaction, the chief executive officer owned 2,542,083 shares of the company’s stock, valued at approximately $37,394,040.93. The trade was a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $15.81, for a total value of $3,505,187.67. Following the completion of the transaction, the insider owned 979,446 shares of the company’s stock, valued at $15,485,041.26. This trade represents a 18.46% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 386,707 shares of company stock worth $6,001,588. Insiders own 1.20% of the company’s stock.

NU Company Profile

Nubank (NYSE: NU) is a digital financial services company headquartered in São Paulo, Brazil. Founded in 2013, the company was established to simplify banking through technology and expand access to financial services in markets traditionally served by large, conventional institutions.

Nubank offers a range of consumer and business products, including digital bank accounts, credit cards, personal loans, payment services, investment products and insurance. Its platform is designed to allow customers to manage accounts, payments and other financial products through mobile applications and other digital channels.

The company primarily serves customers in Brazil, Mexico and Colombia.