New York State Common Retirement Fund lowered its stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 11.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,802,049 shares of the company's stock after selling 226,138 shares during the quarter. New York State Common Retirement Fund's holdings in NU were worth $18,453,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC acquired a new position in NU during the 4th quarter valued at about $441,000. Raymond James Financial Inc. acquired a new stake in shares of NU in the 4th quarter valued at approximately $3,499,000. Sequoia Financial Advisors LLC raised its position in shares of NU by 111.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 26,686 shares of the company's stock valued at $276,000 after acquiring an additional 14,065 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position 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 acquiring an additional 65,743 shares during the period. Finally, Harbour Investments Inc. raised its position in shares of NU by 6.9% in the 4th quarter. Harbour Investments Inc. now owns 63,338 shares of the company's stock valued at $656,000 after acquiring an additional 4,069 shares during the period. Institutional investors own 84.02% of the company's stock.
NU Stock Down 6.9%
Shares of NU traded down $0.97 during mid-day trading on Friday, hitting $13.02. 91,424,462 shares of the company's stock were exchanged, compared to its average volume of 49,898,870. The company has a market cap of $62.74 billion, a PE ratio of 30.28, a P/E/G ratio of 0.79 and a beta of 1.07. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $16.15. The company has a 50-day simple moving average of $12.74 and a 200 day simple moving average of $12.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.54 and a quick ratio of 0.54.
NU (NYSE:NU - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.09 billion. NU had a return on equity of 30.77% and a net margin of 17.88%. During the same period in the prior year, the business earned $0.09 earnings per share. On average, research analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on NU shares. Morgan Stanley reiterated an "overweight" rating on shares of NU in a research report on Friday, June 13th. JPMorgan Chase & Co. raised their target price on shares of NU from $14.50 to $16.00 and gave the stock an "overweight" rating in a report on Monday, June 30th. Barclays raised their target price on shares of NU from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Susquehanna raised their target price on shares of NU from $14.00 to $15.00 and gave the stock a "positive" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, NU currently has an average rating of "Moderate Buy" and an average price target of $15.50.
Check Out Our Latest Stock Analysis on NU
NU Profile
(
Free Report)
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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