Assenagon Asset Management S.A. Lowers Stock Holdings in Nu Holdings Ltd. $NU

Key Points

• Assenagon Asset Management S.A. has reduced its holdings in Nu Holdings Ltd. by 3.7%, selling 319,807 shares to end up with 8,391,972 shares, valued at approximately $115.14 million.
• Nu Holdings reported earnings of $0.14 per share, surpassing analyst expectations of $0.12, despite revenue falling short of expectations at $3.70 billion.
• Analysts have shown increased optimism, with Citigroup and Itau BBA Securities both raising their ratings to "buy" and targeting prices of $18.00 for the stock.

Assenagon Asset Management S.A. cut its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,391,972 shares of the company's stock after selling 319,807 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.17% of NU worth $115,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its holdings in NU by 17.9% in the 1st quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company's stock valued at $2,715,243,000 after acquiring an additional 40,181,132 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of NU by 24.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company's stock worth $557,422,000 after purchasing an additional 10,785,851 shares in the last quarter. Kontiki Capital Management HK Ltd. grew its position in shares of NU by 54.3% during the 1st quarter. Kontiki Capital Management HK Ltd. now owns 32,575,725 shares of the company's stock worth $333,575,000 after purchasing an additional 11,465,700 shares in the last quarter. Northern Trust Corp grew its position in shares of NU by 9.3% during the 1st quarter. Northern Trust Corp now owns 27,869,591 shares of the company's stock worth $285,385,000 after purchasing an additional 2,373,500 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of NU by 13.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,830,023 shares of the company's stock worth $223,539,000 after acquiring an additional 2,597,714 shares in the last quarter. 84.02% of the stock is owned by institutional investors.

NU Trading Down 0.0%

Shares of NYSE:NU traded down $0.01 on Tuesday, reaching $16.30. 17,280,002 shares of the company traded hands, compared to its average volume of 55,949,473. The business's 50-day simple moving average is $13.83 and its 200 day simple moving average is $12.60. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $16.42. The stock has a market capitalization of $78.52 billion, a P/E ratio of 35.48, a price-to-earnings-growth ratio of 0.84 and a beta of 1.07. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24.

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

Wall Street Analyst Weigh In

NU has been the subject of several analyst reports. Bank of America raised their price target on shares of NU from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. JPMorgan Chase & Co. boosted their price target on shares of NU from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. UBS Group boosted their price target on shares of NU from $14.30 to $15.60 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Bradesco Corretora upgraded shares of NU to an "outperform" rating and set a $17.00 target price on the stock in a research note on Monday, August 25th. Finally, Citigroup upgraded shares of NU from a "sell" rating to a "buy" rating and boosted their target price for the company from $9.00 to $18.00 in a research note on Wednesday, August 20th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.