Acadian Asset Management LLC Lowers Stock Holdings in Nu Holdings Ltd. $NU

Key Points

• Acadian Asset Management LLC significantly reduced its stake in Nu Holdings Ltd. by 60.4%, selling 199,110 shares during the first quarter and holding 130,278 shares valued at $1,334,000.
• Several analysts have upgraded their ratings on NU, with JPMorgan Chase raising its target price from $16.00 to $17.00 and others setting targets as high as $18.00, indicating strong positive sentiment.
• Nu Holdings recently reported earnings of $0.14 per share, exceeding expectations, while the company's revenue stood at $3.70 billion for the latest quarter.

Acadian Asset Management LLC cut its stake in Nu Holdings Ltd. (NYSE:NU - Free Report) by 60.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 130,278 shares of the company's stock after selling 199,110 shares during the period. Acadian Asset Management LLC's holdings in NU were worth $1,334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. IFM Investors Pty Ltd lifted its holdings in NU by 46.4% in the first quarter. IFM Investors Pty Ltd now owns 107,268 shares of the company's stock worth $1,098,000 after buying an additional 34,017 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NU by 13.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,830,023 shares of the company's stock worth $223,539,000 after buying an additional 2,597,714 shares during the period. Ascent Group LLC bought a new position in shares of NU during the first quarter valued at approximately $122,000. Sylebra Capital LLC increased its stake in shares of NU by 51.0% during the first quarter. Sylebra Capital LLC now owns 3,555,632 shares of the company's stock valued at $36,410,000 after purchasing an additional 1,201,449 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of NU by 222.4% during the first quarter. Dynamic Technology Lab Private Ltd now owns 35,952 shares of the company's stock valued at $368,000 after purchasing an additional 24,799 shares in the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bradesco Corretora raised shares of NU to an "outperform" rating and set a $17.00 target price for the company in a research note on Monday, August 25th. Morgan Stanley reaffirmed an "overweight" rating on shares of NU in a research note on Friday, June 13th. UBS Group raised their target price on shares of NU from $14.30 to $15.60 and gave the company a "neutral" rating in a research note on Tuesday, September 2nd. Itau BBA Securities upgraded shares of NU from a "market perform" rating to an "outperform" rating and set a $18.00 price target on the stock in a research note on Monday, August 18th. Finally, Bank of America upped their price target 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. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.06.

NU Stock Performance

Shares of NU stock traded up $0.21 during mid-day trading on Friday, reaching $16.20. 55,855,984 shares of the company's stock traded hands, compared to its average volume of 44,761,736. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $78.06 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 0.84 and a beta of 1.07. Nu Holdings Ltd. has a 12 month low of $9.01 and a 12 month high of $16.35. The firm has a 50 day moving average price of $13.77 and a two-hundred day moving average price of $12.56.

NU (NYSE:NU - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NU had a return on equity of 29.91% and a net margin of 17.90%.The company had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period last year, the firm earned $0.12 EPS. On average, research analysts forecast 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.