Glynn Capital Management LLC Sells 170,263 Shares of Nu Holdings Ltd. $NU

Key Points

• Glynn Capital Management reduced its Nu Holdings stake by 12.2% in the fourth quarter, selling 170,263 shares and leaving it with 1,222,151 shares worth about $20.46 million.
• Institutional ownership in Nu remains heavy, with 84.02% of shares held by institutions and hedge funds; several large investors, including Vanguard and WCM, increased their positions.
• Nu’s latest quarterly results showed mixed performance: revenue came in above expectations at $5.32 billion, but EPS of $0.19 slightly missed estimates. The stock traded up 0.3% to $13.08, and analysts currently rate it a Moderate Buy with an average price target of $18.39.

Glynn Capital Management LLC cut its holdings in Nu Holdings Ltd. (NYSE:NU - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,222,151 shares of the company's stock after selling 170,263 shares during the quarter. NU accounts for 7.0% of Glynn Capital Management LLC's investment portfolio, making the stock its 3rd largest holding. Glynn Capital Management LLC's holdings in NU were worth $20,459,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NU. Maxi Investments CY Ltd raised its position in shares of NU by 85.5% during the fourth quarter. Maxi Investments CY Ltd now owns 783,000 shares of the company's stock worth $13,107,000 after purchasing an additional 361,000 shares during the period. C WorldWide Group Holding A S raised its position in shares of NU by 1,045.3% during the fourth quarter. C WorldWide Group Holding A S now owns 311,792 shares of the company's stock worth $5,219,000 after purchasing an additional 284,569 shares during the period. Mawer Investment Management Ltd. acquired a new position in shares of NU during the third quarter worth approximately $10,829,000. Vanguard Group Inc. raised its position in shares of NU by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company's stock worth $415,401,000 after purchasing an additional 1,037,438 shares during the period. Finally, WCM Investment Management LLC raised its position in shares of NU by 0.9% during the third quarter. WCM Investment Management LLC now owns 74,478,698 shares of the company's stock worth $1,187,935,000 after purchasing an additional 659,526 shares during the period. 84.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NU. Weiss Ratings lowered NU from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 13th. Bank of America reissued a "neutral" rating on shares of NU in a research report on Monday, March 9th. Zacks Research lowered NU from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Itau BBA Securities reissued an "outperform" rating on shares of NU in a research report on Tuesday, March 17th. Finally, UBS Group lowered their price target on NU from $18.10 to $16.90 and set a "buy" rating for the company in a research report on Wednesday, May 20th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.39.

NU Trading Up 0.3%

NYSE NU opened at $13.08 on Friday. The firm has a market capitalization of $63.49 billion, a P/E ratio of 20.12, a PEG ratio of 0.52 and a beta of 1.01. The business has a fifty day simple moving average of $14.02 and a 200 day simple moving average of $15.68. Nu Holdings Ltd. has a 12 month low of $11.71 and a 12 month high of $18.98. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. On average, analysts predict that Nu Holdings Ltd. will post 0.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other NU news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the company's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $14.81, for a total value of $4,443,000.00. Following the completion of the transaction, the chief executive officer owned 2,312,338 shares in the company, valued at $34,245,725.78. This represents a 11.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anita M. Sands sold 21,000 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the transaction, the director owned 162,150 shares of the company's stock, valued at $1,984,716. This trade represents a 11.47% decrease in their position. The SEC filing for this sale provides additional information. 1.20% of the stock is owned by corporate insiders.

About NU

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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