Nu Holdings Ltd. $NU Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in Nu Holdings Ltd. (NYSE:NU) by 48.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 21,561,147 shares of the company’s stock after selling 20,401,532 shares during the period. Jennison Associates LLC’s holdings in NU were worth $345,194,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NU. Teacher Retirement System of Texas raised its position in shares of NU by 18.5% in the third quarter. Teacher Retirement System of Texas now owns 482,003 shares of the company’s stock valued at $7,717,000 after buying an additional 75,164 shares during the last quarter. Myriad Asset Management US LP purchased a new stake in NU during the 3rd quarter valued at about $2,053,000. Spear Holdings RSC Ltd raised its holdings in NU by 63.5% in the 3rd quarter. Spear Holdings RSC Ltd now owns 5,347,000 shares of the company’s stock valued at $85,605,000 after acquiring an additional 2,077,414 shares during the last quarter. Proem Advisors LLC lifted its stake in NU by 0.7% in the 3rd quarter. Proem Advisors LLC now owns 425,614 shares of the company’s stock worth $6,814,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of NU by 1.2% during the 3rd quarter. Strs Ohio now owns 788,530 shares of the company’s stock worth $12,624,000 after purchasing an additional 9,389 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Stock Performance

NYSE NU opened at $18.03 on Friday. The stock has a market cap of $86.89 billion, a PE ratio of 35.36, a P/E/G ratio of 0.59 and a beta of 1.08. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $18.37. The stock has a fifty day simple moving average of $16.81 and a 200-day simple moving average of $15.34. 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 posted its 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 company 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%. Equities analysts anticipate that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on NU. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NU in a report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 target price on shares of NU in a research note on Thursday, December 18th. Susquehanna boosted their price target on shares of NU from $17.00 to $19.00 and gave the company a “positive” rating in a research report on Friday, November 14th. KeyCorp raised their price objective on shares of NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Finally, Santander upgraded shares of NU from a “neutral” rating to an “outperform” rating in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.04.

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.