Moran Wealth Management LLC Decreases Stake in Nu Holdings Ltd. $NU

Key Points

• Moran Wealth Management LLC significantly reduced its stake in Nu Holdings Ltd. by 69.1% during the second quarter, owning 244,951 shares after selling 548,897 shares.
• Analysts have a generally positive outlook on Nu Holdings, with recent price target increases from Bank of America, JPMorgan, and Citigroup, some raising targets to as high as $18.00.
• Nu Holdings reported earnings of $0.14 per share for the last quarter, exceeding estimates and generating $3.70 billion in revenue, though slightly below expectations.

Moran Wealth Management LLC reduced its stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 69.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 244,951 shares of the company's stock after selling 548,897 shares during the period. Moran Wealth Management LLC's holdings in NU were worth $3,361,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of NU by 128.7% in the first quarter. Farther Finance Advisors LLC now owns 4,250 shares of the company's stock valued at $44,000 after purchasing an additional 2,392 shares during the period. Yousif Capital Management LLC boosted its position in NU by 1.5% in the first quarter. Yousif Capital Management LLC now owns 92,920 shares of the company's stock valued at $952,000 after buying an additional 1,416 shares during the last quarter. GAMMA Investing LLC increased its holdings in NU by 111.9% in the 1st quarter. GAMMA Investing LLC now owns 7,050 shares of the company's stock worth $72,000 after buying an additional 3,723 shares during the period. SG Americas Securities LLC raised its position in NU by 212.1% during the 1st quarter. SG Americas Securities LLC now owns 83,401 shares of the company's stock worth $854,000 after buying an additional 56,682 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in NU by 6.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 282,317 shares of the company's stock valued at $2,891,000 after acquiring an additional 17,532 shares during the period. 84.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NU shares. Bank of America increased their price objective on shares of NU from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. JPMorgan Chase & Co. increased their price target on NU from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Susquehanna lifted their price objective on NU from $15.00 to $17.00 and gave the company a "positive" rating in a research note on Wednesday, August 27th. Citigroup upgraded NU from a "sell" rating to a "buy" rating and upped their target price for the stock from $9.00 to $18.00 in a research note on Wednesday, August 20th. Finally, Itau BBA Securities raised NU from a "market perform" rating to an "outperform" rating and set a $18.00 target price on the stock in a report on Monday, August 18th. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.06.

NU Trading Up 1.8%

NU stock opened at $15.18 on Thursday. Nu Holdings Ltd. has a 52-week low of $9.01 and a 52-week high of $16.42. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.24. The firm has a market cap of $73.12 billion, a P/E ratio of 32.99, a PEG ratio of 0.78 and a beta of 1.08. The company's 50-day simple moving average is $14.75 and its 200-day simple moving average is $13.08.

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

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.

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