Jennison Associates LLC Trims Stock Holdings in Nu Holdings Ltd. (NYSE:NU)

Jennison Associates LLC decreased its stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 30,394,814 shares of the company's stock after selling 6,089,119 shares during the quarter. Jennison Associates LLC owned 0.63% of NU worth $311,243,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NU. Proficio Capital Partners LLC purchased a new stake in shares of NU in the fourth quarter worth about $441,000. Raymond James Financial Inc. acquired a new stake in shares of NU during the fourth quarter worth about $3,499,000. Sequoia Financial Advisors LLC increased its position in shares of NU by 111.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 26,686 shares of the company's stock valued at $276,000 after buying an additional 14,065 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of NU by 547.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,754 shares of the company's stock valued at $806,000 after purchasing an additional 65,743 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of NU by 6.9% during the 4th quarter. Harbour Investments Inc. now owns 63,338 shares of the company's stock worth $656,000 after acquiring an additional 4,069 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NU has been the topic of a number of recent research reports. Barclays lifted 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. Susquehanna increased their price target on shares of NU from $14.00 to $15.00 and gave the company a "positive" rating in a report on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating on shares of NU in a research note on Friday, June 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NU from $14.50 to $16.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. 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. According to data from MarketBeat, NU has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.

NU Stock Down 1.0%

NYSE NU traded down $0.14 during trading on Monday, reaching $12.89. The company's stock had a trading volume of 66,778,854 shares, compared to its average volume of 50,148,497. Nu Holdings Ltd. has a 1-year low of $9.01 and a 1-year high of $16.15. The stock has a market capitalization of $62.09 billion, a PE ratio of 29.97, a PEG ratio of 0.74 and a beta of 1.07. 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 business has a 50-day moving average price of $12.75 and a 200-day moving average price of $12.04.

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

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.