Nu Holdings Ltd. $NU Position Reduced by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its stake in Nu Holdings Ltd. by 29.1%, owning 12,817,769 shares valued at approximately $131.25 million post-sale.
• Other institutional investors have increased their holdings in NU, with some firms reporting growth of up to 74.1% during the same quarter.
• Nu Holdings reported earnings of $0.14 per share for the last quarter, exceeding analysts' expectations, but with revenue slightly below consensus estimates at $3.70 billion.

Alliancebernstein L.P. decreased its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 29.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,817,769 shares of the company's stock after selling 5,252,739 shares during the period. Alliancebernstein L.P. owned 0.27% of NU worth $131,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Focus Partners Advisor Solutions LLC increased its position in NU by 5.5% during the first quarter. Focus Partners Advisor Solutions LLC now owns 15,974 shares of the company's stock worth $164,000 after purchasing an additional 838 shares during the last quarter. Perigon Wealth Management LLC increased its position in NU by 8.4% during the first quarter. Perigon Wealth Management LLC now owns 14,641 shares of the company's stock worth $150,000 after purchasing an additional 1,136 shares during the last quarter. Richards Merrill & Peterson Inc. increased its position in NU by 43.6% during the first quarter. Richards Merrill & Peterson Inc. now owns 4,115 shares of the company's stock worth $42,000 after purchasing an additional 1,250 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in NU by 51.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock worth $39,000 after purchasing an additional 1,295 shares during the last quarter. Finally, TFC Financial Management Inc. increased its position in NU by 74.1% during the first quarter. TFC Financial Management Inc. now owns 3,114 shares of the company's stock worth $32,000 after purchasing an additional 1,325 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company's stock.

NU Stock Down 0.8%

NU traded down $0.12 during trading hours on Friday, reaching $14.75. 49,800,685 shares of the stock traded hands, compared to its average volume of 56,109,880. The firm's fifty day simple moving average is $13.31 and its two-hundred day simple moving average is $12.22. The company has a market cap of $71.06 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 0.77 and a beta of 1.07. Nu Holdings Ltd. has a fifty-two week low of $9.01 and a fifty-two week high of $16.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.57 and a quick ratio of 0.57.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.78 billion. NU had a net margin of 17.90% and a return on equity of 29.91%. During the same period last year, the business earned $0.12 EPS. As a group, analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of NU from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, August 25th. Itau BBA Securities raised shares of NU from a "market perform" rating to an "outperform" rating and set a $18.00 price objective for the company in a research report on Monday, August 18th. Citigroup raised shares of NU from a "sell" rating to a "buy" rating and increased their price objective for the stock from $9.00 to $18.00 in a research report on Wednesday, August 20th. Susquehanna increased their price objective on shares of NU from $15.00 to $17.00 and gave the stock a "positive" rating in a research report on Wednesday, August 27th. Finally, Morgan Stanley reissued an "overweight" rating on shares of NU in a research report on Friday, June 13th. Nine research analysts have rated the stock with 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 an average target price of $17.06.

NU Company Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.