Principal Financial Group Inc. Sells 37,213 Shares of Nu Holdings Ltd. $NU

Principal Financial Group Inc. lowered its stake in Nu Holdings Ltd. (NYSE:NU) by 27.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,543 shares of the company’s stock after selling 37,213 shares during the quarter. Principal Financial Group Inc.’s holdings in NU were worth $1,594,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Quaker Wealth Management LLC increased its position in shares of NU by 212.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock worth $32,000 after purchasing an additional 4,341 shares during the last quarter. Allworth Financial LP grew its stake in shares of NU by 166.6% in the second quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock valued at $35,000 after buying an additional 1,601 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of NU in the second quarter valued at $38,000. FNY Investment Advisers LLC increased its holdings in NU by 334,100.0% during the second quarter. FNY Investment Advisers LLC now owns 3,342 shares of the company’s stock worth $45,000 after buying an additional 3,341 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in NU by 63.5% during the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock worth $52,000 after acquiring an additional 1,464 shares in the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

NU Stock Up 0.2%

NU stock opened at $16.86 on Wednesday. The company’s 50-day moving average price is $17.15 and its two-hundred day moving average price is $15.92. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. The stock has a market cap of $81.24 billion, a P/E ratio of 33.06, a P/E/G ratio of 0.55 and a beta of 1.08. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $18.98.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NU shares. UBS Group lifted their price objective on shares of NU from $16.00 to $18.40 and gave the company a “neutral” rating in a research report on Thursday, December 4th. KeyCorp raised their target price on shares of NU from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Santander raised NU from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 4th. The Goldman Sachs Group restated a “buy” rating and issued a $21.00 price objective on shares of NU in a research note on Thursday, December 18th. Finally, JPMorgan Chase & Co. lifted their target price on NU from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.34.

About NU

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.