Nu Holdings Ltd. $NU Stake Decreased by Perpetual Ltd

Key Points

• Perpetual Ltd. reduced its Nu Holdings stake by 53.2% in the third quarter, selling 3.77 million shares and retaining 3.32 million shares worth approximately $42 million. Institutional investors and hedge funds collectively own 84.02% of NU.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $17.94. Ratings include nine Buys, five Holds and one Sell.
• Nu Holdings reported quarterly earnings of $0.22 per share on $5.88 billion in revenue, while insiders sold 386,707 shares worth about $6 million over the past three months. NU opened at $16.01, within its 12-month range of $11.20 to $18.98.

Perpetual Ltd cut its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 53.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,319,585 shares of the company's stock after selling 3,774,787 shares during the quarter. Perpetual Ltd owned 0.07% of NU worth $42,026,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GK Wealth Management LLC acquired a new position in NU in the 3rd quarter valued at approximately $31,000. Systrade AG grew its holdings in shares of NU by 1,300.0% during the 3rd quarter. Systrade AG now owns 140,000 shares of the company's stock worth $1,772,000 after purchasing an additional 130,000 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of NU during the 2nd quarter worth approximately $316,000. Envestnet Portfolio Solutions Inc. increased its position in shares of NU by 25.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 19,227 shares of the company's stock valued at $257,000 after purchasing an additional 3,883 shares during the period. Finally, Andra AP fonden increased its position in shares of NU by 17.7% during the second quarter. Andra AP fonden now owns 2,736,700 shares of the company's stock valued at $36,562,000 after purchasing an additional 411,500 shares during the period. 84.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NU shares. Needham & Company LLC restated a "buy" rating and issued a $19.00 target price on shares of NU in a research note on Monday, September 28th. Itau BBA Securities downgraded shares of NU from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $20.00 to $18.00 in a research note on Wednesday, September 16th. Wolfe Research lowered their price target on shares of NU from $18.00 to $17.00 and set an "outperform" rating on the stock in a report on Tuesday, August 25th. Rothschild & Co Redburn set a $19.00 price target on shares of NU in a report on Monday, September 28th. Finally, Susquehanna increased their price objective on shares of NU from $13.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.94.

Insider Buying and Selling

In related news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $15.81, for a total transaction of $3,505,187.67. Following the completion of the transaction, the insider owned 979,446 shares in the company, valued at $15,485,041.26. This trade represents a 18.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristina Junqueira sold 65,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total value of $956,150.00. Following the transaction, the chief executive officer owned 2,542,083 shares of the company's stock, valued at $37,394,040.93. This trade represents a 2.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 386,707 shares of company stock valued at $6,001,588.

NU Stock Down 0.7%

Shares of NU opened at $16.01 on Tuesday. The stock has a market cap of $77.73 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 0.66 and a beta of 0.95. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Nu Holdings Ltd. has a 12 month low of $11.20 and a 12 month high of $18.98. The company has a 50-day moving average price of $14.42 and a two-hundred day moving average price of $13.90.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 earnings per share for the quarter. NU had a return on equity of 31.59% and a net margin of 18.65%. The company had revenue of $5.88 billion for the quarter. Equities analysts predict that Nu Holdings Ltd. will post 0.86 EPS for the current fiscal year.

About NU

Nu Holdings Ltd., operating under the Nubank brand, is a digital financial services company that provides banking and payment products primarily through mobile applications. The company offers digital accounts, credit cards, personal loans, payment services, investment products and insurance, serving consumers and small businesses.

Nubank was founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible with the goal of expanding access to simpler, lower-cost financial services through technology.

Want to see what other hedge funds are holding NU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nu Holdings Ltd. (NYSE:NU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.