ARK Investment Management LLC Reduces Stock Position in Nu Holdings Ltd. (NYSE:NU)

Key Points

• ARK Investment Management LLC has reduced its stake in Nu Holdings Ltd. by 39.0%, now holding 1,273,658 shares worth approximately $13 million.
• Other institutional investors, including Allen Investment Management LLC and Baillie Gifford & Co., have increased their positions in Nu, highlighting strong institutional interest as 84.02% of the company's stock is owned by institutions.
• Analysts have generally positive outlooks on NU, with multiple firms raising price targets and the stock receiving an average rating of "Moderate Buy" with a consensus price target of $15.50.

ARK Investment Management LLC decreased its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 39.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,273,658 shares of the company's stock after selling 812,860 shares during the quarter. ARK Investment Management LLC's holdings in NU were worth $13,042,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. NBC Securities Inc. grew its stake in NU by 286,000.0% in the 1st quarter. NBC Securities Inc. now owns 2,861 shares of the company's stock worth $29,000 after acquiring an additional 2,860 shares in the last quarter. TFC Financial Management Inc. boosted its stake in NU by 74.1% in the 1st 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 in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in NU by 51.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock valued at $39,000 after purchasing an additional 1,295 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of NU by 128.7% during the first quarter. Farther Finance Advisors LLC now owns 4,250 shares of the company's stock worth $44,000 after buying an additional 2,392 shares in the last quarter. Finally, Orion Capital Management LLC purchased a new position in NU during the fourth quarter worth approximately $50,000. Institutional investors own 84.02% of the company's stock.

Analyst Upgrades and Downgrades

NU has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on NU from $14.50 to $16.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. Susquehanna boosted their price target on shares of NU from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of NU in a research report on Friday, June 13th. Finally, Barclays increased their price objective on NU from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.50.

NU Stock Performance

Shares of NU stock traded down $0.11 during trading hours on Monday, hitting $12.62. 40,561,735 shares of the company were exchanged, compared to its average volume of 69,356,520. The business has a 50-day moving average of $12.71 and a 200-day moving average of $12.11. Nu Holdings Ltd. has a 1 year low of $9.01 and a 1 year high of $16.15. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $60.81 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 0.72 and a beta of 1.07.

NU (NYSE:NU - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). NU had a return on equity of 30.77% and a net margin of 17.88%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the firm earned $0.09 earnings per share. As a group, analysts expect that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

NU 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.