Nu Holdings Ltd. $NU Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. trimmed its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 3.3% during the third quarter, HoldingsChannel reports. The firm owned 6,917,678 shares of the company’s stock after selling 238,169 shares during the quarter. Mawer Investment Management Ltd.’s holdings in NU were worth $87,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. GK Wealth Management LLC purchased a new position in shares of NU in the 3rd quarter worth about $31,000. Harbor Investment Advisory LLC grew its position in NU by 68.2% during the second quarter. Harbor Investment Advisory LLC now owns 3,010 shares of the company’s stock valued at $40,000 after buying an additional 1,220 shares during the period. Ancora Advisors LLC purchased a new stake in NU during the second quarter worth about $76,000. EverSource Wealth Advisors LLC increased its holdings in NU by 58.1% during the first quarter. EverSource Wealth Advisors LLC now owns 6,468 shares of the company’s stock worth $93,000 after buying an additional 2,377 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in NU by 48.7% during the third quarter. TD Waterhouse Canada Inc. now owns 6,755 shares of the company’s stock worth $90,000 after buying an additional 2,213 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NU. JPMorgan Chase & Co. lifted their price objective on shares of NU from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of NU in a research report on Friday. Susquehanna increased their target price on shares of NU from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Rothschild & Co Redburn set a $19.00 price target on shares of NU in a research note on Monday, September 28th. Finally, Monness Crespi & Hardt started coverage on shares of NU in a report on Monday, October 26th. They issued a “buy” rating and a $20.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.25.

NU Stock Performance

Shares of NU stock traded up $1.31 on Friday, hitting $13.14. 152,506,468 shares of the stock were exchanged, compared to its average volume of 84,930,656. 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 firm has a market capitalization of $63.79 billion, a PE ratio of 16.42, a P/E/G ratio of 0.49 and a beta of 0.97. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The firm’s 50 day moving average is $13.76 and its two-hundred day moving average is $14.22.

NU (NYSE:NU) last announced its quarterly earnings data on Thursday, November 12th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). NU had a return on equity of 32.54% and a net margin of 18.66%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.96 billion. During the same period last year, the business posted $0.16 EPS. Sell-side analysts expect that Nu Holdings Ltd. will post 0.85 earnings per share for the current fiscal year.

Key NU News

These are some of the NU news items that stood out recently:

• Positive Sentiment: Nu reported record Q3 revenue of $6.26 billion, topping the roughly $5.96 billion analyst estimate, and record net income of $1.09 billion. EPS was $0.22, just below the $0.23 estimate cited by some analysts. Article: Nu Holdings Surges on Record Q3 Earnings Beat
• Positive Sentiment: Management highlighted 33% credit growth, stronger lending margins, improving efficiency prospects, and expansion across global markets, including Mexico and Colombia. The results helped ease concerns about the company’s dependence on Brazil. Article: Q3 Earnings Call Highlights
• Positive Sentiment: Needham reaffirmed its Buy rating and set a $19 price target, while unusually high call-option activity also pointed to increased bullish positioning. Needham rating information

Insiders Place Their Bets

In other NU news, CEO Cristina Junqueira sold 65,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total transaction of $956,150.00. Following the completion of the transaction, the chief executive officer owned 2,542,083 shares in the company, valued at $37,394,040.93. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 115,000 shares of company stock worth $1,706,400 in the last three months. 1.20% of the stock is owned by company insiders.

About NU

Nu Holdings Ltd., which operates under the Nubank brand, is a digital financial services company founded in Brazil in 2013. It provides banking and related services through mobile apps and other digital channels, with a focus on simplifying access to financial products. Its offerings include digital accounts, payment cards, credit products, personal loans, and investment services. The company also provides services to small businesses, with products and availability varying by country. Nu serves customers in Brazil, Mexico, and Colombia.