Thornburg Investment Management Inc. Sells 185,290 Shares of Nu Holdings Ltd. $NU

Thornburg Investment Management Inc. trimmed its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 13.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,191,386 shares of the company’s stock after selling 185,290 shares during the period. Thornburg Investment Management Inc.’s holdings in NU were worth $19,074,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NU. State Street Corp boosted its holdings in shares of NU by 2.4% during the 2nd quarter. State Street Corp now owns 91,238,735 shares of the company’s stock valued at $1,251,795,000 after purchasing an additional 2,158,037 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of NU by 0.9% in the third quarter. WCM Investment Management LLC now owns 74,478,698 shares of the company’s stock worth $1,187,935,000 after purchasing an additional 659,526 shares during the last quarter. Sands Capital Management LLC lifted its position in shares of NU by 5.9% in the second quarter. Sands Capital Management LLC now owns 54,504,428 shares of the company’s stock worth $747,801,000 after buying an additional 3,060,463 shares in the last quarter. Norges Bank bought a new position in NU during the second quarter valued at approximately $626,569,000. Finally, Jennison Associates LLC boosted its stake in NU by 38.1% during the second quarter. Jennison Associates LLC now owns 41,962,679 shares of the company’s stock valued at $575,728,000 after buying an additional 11,567,865 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a research note on Tuesday. KeyCorp raised their target price on shares of NU from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, November 14th. The Goldman Sachs Group restated a “buy” rating and issued a $21.00 price target on shares of NU in a research report on Thursday, December 18th. JPMorgan Chase & Co. increased their price objective on shares of NU from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Finally, UBS Group lifted their price objective on shares of NU from $16.00 to $18.40 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, NU has a consensus rating of “Moderate Buy” and an average price target of $18.34.

NU Stock Up 0.6%

NYSE NU opened at $16.62 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $18.98. The firm has a market capitalization of $80.09 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 0.54 and a beta of 1.08. The company has a fifty day moving average of $17.19 and a two-hundred day moving average of $16.09.

NU (NYSE:NU) last announced its earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. NU had a net margin of 17.97% and a return on equity of 30.12%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.55 billion. On average, analysts predict that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

NU Company 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.