Fred Alger Management LLC Sells 431,270 Shares of Nu Holdings Ltd. $NU

Key Points

• Fred Alger Management LLC reduced its stake in Nu Holdings Ltd. by 47.9% in the first quarter, now owning 468,297 shares valued at approximately $4.8 million.
• Several institutional investors have increased their holdings in Nu, with TFC Financial Management Inc. increasing their stake by 74.1% in the same period.
• Analysts have a generally positive outlook on the stock, with an average rating of "Moderate Buy" and a target price of $17.06.

Fred Alger Management LLC reduced its stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 47.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,297 shares of the company's stock after selling 431,270 shares during the quarter. Fred Alger Management LLC's holdings in NU were worth $4,795,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Baillie Gifford & Co. raised its stake in NU by 17.9% during the first quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company's stock worth $2,715,243,000 after acquiring an additional 40,181,132 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of NU by 24.7% during the first 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 during the last quarter. Kontiki Capital Management HK Ltd. grew its holdings in shares of NU by 54.3% during the first 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 during the last quarter. Northern Trust Corp grew its holdings in shares of NU by 9.3% during the first 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 during the last quarter. Finally, Ribbit Management Company LLC grew its holdings in shares of NU by 22.1% during the fourth quarter. Ribbit Management Company LLC now owns 25,243,753 shares of the company's stock worth $261,525,000 after purchasing an additional 4,575,000 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

NU Stock Performance

NU traded up $0.08 during trading on Friday, hitting $15.70. The stock had a trading volume of 31,770,265 shares, compared to its average volume of 56,183,924. The company has a 50 day moving average price of $13.50 and a 200-day moving average price of $12.36. The firm has a market cap of $75.65 billion, a price-to-earnings ratio of 34.13, a P/E/G ratio of 0.81 and a beta of 1.07. Nu Holdings Ltd. has a one year low of $9.01 and a one year 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 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 firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same period in the prior year, the company posted $0.12 EPS. As a group, research analysts predict that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

NU has been the topic of several research analyst reports. Susquehanna increased their target price on NU from $15.00 to $17.00 and gave the stock a "positive" rating in a report on Wednesday, August 27th. Citigroup raised NU from a "sell" rating to a "buy" rating and raised their price target for the stock from $9.00 to $18.00 in a research report on Wednesday, August 20th. Santander raised NU to a "neutral" rating in a research report on Monday, August 25th. Bank of America raised their price target on NU from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, August 25th. Finally, Bradesco Corretora raised NU to an "outperform" rating and set a $17.00 price target on the stock in a research report on Monday, August 25th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.06.

About NU

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.