Atreides Management LP Has $40.18 Million Stock Holdings in Nu Holdings Ltd. $NU

Key Points

• Atreides Management LP trimmed its NU stake by 8.6% in Q3, selling 234,795 shares and ending the quarter with 2,509,389 shares worth about $40.18 million (a 0.05% ownership position).
• Several large institutions greatly increased positions—Norges Bank opened a ~<$626.6M> position and firms like Marshall Wace, Arrowstreet, William Blair and Two Sigma added tens of millions of shares—leaving institutional ownership at 84.02%.
• Nu recently beat estimates (Q: $0.19 EPS vs. $0.18 expected; revenue $4.86B vs. $4.55B) and carries a consensus "Moderate Buy" rating with a $18.22 price target; the stock has a ~$66.9B market cap and a P/E of 23.92.

Atreides Management LP trimmed its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 8.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,509,389 shares of the company's stock after selling 234,795 shares during the quarter. Atreides Management LP owned 0.05% of NU worth $40,175,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of NU in the second quarter valued at approximately $626,569,000. Marshall Wace LLP increased its position in shares of NU by 98.4% during the third quarter. Marshall Wace LLP now owns 29,141,505 shares of the company's stock worth $466,555,000 after acquiring an additional 14,449,834 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of NU by 276.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 18,416,144 shares of the company's stock worth $294,842,000 after acquiring an additional 13,529,278 shares during the period. William Blair Investment Management LLC raised its holdings in shares of NU by 182.9% during the third quarter. William Blair Investment Management LLC now owns 19,449,424 shares of the company's stock worth $311,385,000 after acquiring an additional 12,574,893 shares during the period. Finally, Two Sigma Investments LP lifted its position in NU by 115.4% in the 3rd quarter. Two Sigma Investments LP now owns 15,424,872 shares of the company's stock valued at $246,952,000 after acquiring an additional 8,265,475 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

NU Trading Down 0.7%

Shares of NYSE:NU opened at $13.88 on Friday. The company's 50-day moving average price is $16.71 and its two-hundred day moving average price is $16.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.58 and a quick ratio of 0.56. Nu Holdings Ltd. has a one year low of $9.01 and a one year high of $18.98. The stock has a market capitalization of $66.86 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11.

NU (NYSE:NU - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $4.86 billion during the quarter, compared to analysts' expectations of $4.55 billion. NU had a return on equity of 30.68% and a net margin of 18.19%. On average, equities analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on NU. JPMorgan Chase & Co. upped their target price on shares of NU from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Thursday, November 20th. Bank of America restated a "neutral" rating on shares of NU in a report on Monday, March 9th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $21.00 price objective on shares of NU in a research report on Thursday, December 18th. Susquehanna lifted their target price on NU from $19.00 to $22.00 and gave the company a "positive" rating in a research report on Tuesday, January 27th. Finally, Itau BBA Securities restated an "outperform" rating on shares of NU in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, NU presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.22.

NU 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.

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