Nikko Asset Management Americas Inc. Has $43.42 Million Stake in Nu Holdings Ltd. (NYSE:NU)

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in Nu Holdings Ltd. by 21.1%, selling 1,135,068 shares during the 1st quarter, leaving them with approximately 4.24 million shares valued at $43.4 million.
• Nu Holdings reported disappointing earnings, with an EPS of $0.11, slightly below the consensus estimate of $0.12, although revenue exceeded expectations at $3.25 billion.
• Analysts are generally optimistic about NU, with an average rating of "Moderate Buy" and a consensus target price of $15.50, following recent price target increases from several brokerages.

Nikko Asset Management Americas Inc. lowered its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 21.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,239,726 shares of the company's stock after selling 1,135,068 shares during the quarter. Nikko Asset Management Americas Inc. owned about 0.09% of NU worth $43,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. NBC Securities Inc. grew its position in NU by 286,000.0% in the 1st quarter. NBC Securities Inc. now owns 2,861 shares of the company's stock worth $29,000 after purchasing an additional 2,860 shares during the last quarter. TFC Financial Management Inc. grew its position in NU by 74.1% in the 1st quarter. TFC Financial Management Inc. now owns 3,114 shares of the company's stock worth $32,000 after purchasing an additional 1,325 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in NU by 51.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock worth $39,000 after purchasing an additional 1,295 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of NU by 128.7% during the 1st quarter. Farther Finance Advisors LLC now owns 4,250 shares of the company's stock valued at $44,000 after acquiring an additional 2,392 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of NU during the 4th quarter valued at about $50,000. Institutional investors own 84.02% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on NU shares. Morgan Stanley restated an "overweight" rating on shares of NU in a research report on Friday, June 13th. JPMorgan Chase & Co. boosted their price target on shares of NU from $14.50 to $16.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. Barclays boosted their price target on shares of NU from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Susquehanna boosted their price target on shares of NU from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.

NU Trading Down 0.9%

NYSE NU traded down $0.11 during trading on Monday, reaching $12.62. 40,561,735 shares of the stock traded hands, compared to its average volume of 69,356,520. The firm has a market cap of $60.81 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 0.72 and a beta of 1.07. The stock's 50-day moving average price is $12.71 and its 200 day moving average price is $12.11. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.20. Nu Holdings Ltd. has a fifty-two week low of $9.01 and a fifty-two week high of $16.15.

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