Oak Grove Capital LLC Sells 67,935 Shares of Nu Holdings Ltd. $NU

Key Points

• Oak Grove Capital LLC reduced its holdings in Nu Holdings Ltd. by 14.4%, selling 67,935 shares and now owning 405,147 shares, which constitutes 0.9% of its investment portfolio.
• Several institutional investors have increased their stakes in Nu, with GAMMA Investing LLC lifting its holdings by 2,069.9%, now owning 72,192 shares worth $7,050,000.
• Research analysts have generally provided positive outlooks for Nu, with several firms raising their price targets and assigning an average rating of "Moderate Buy" with a consensus price target of $15.50.

Oak Grove Capital LLC decreased its stake in Nu Holdings Ltd. (NYSE:NU - Free Report) by 14.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 405,147 shares of the company's stock after selling 67,935 shares during the quarter. NU accounts for about 0.9% of Oak Grove Capital LLC's portfolio, making the stock its 23rd largest position. Oak Grove Capital LLC's holdings in NU were worth $4,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NU. Raymond James Financial Inc. acquired a new position in NU in the fourth quarter valued at about $3,499,000. Rockefeller Capital Management L.P. raised its position in shares of NU by 241.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 260,419 shares of the company's stock worth $2,698,000 after purchasing an additional 184,233 shares during the period. Townsquare Capital LLC raised its position in shares of NU by 555.0% during the fourth quarter. Townsquare Capital LLC now owns 94,650 shares of the company's stock worth $981,000 after purchasing an additional 80,199 shares during the period. Barclays PLC raised its position in shares of NU by 10.7% during the fourth quarter. Barclays PLC now owns 1,112,243 shares of the company's stock worth $11,523,000 after purchasing an additional 107,221 shares during the period. Finally, Mariner LLC raised its position in shares of NU by 4.6% during the fourth quarter. Mariner LLC now owns 1,775,845 shares of the company's stock worth $18,398,000 after purchasing an additional 78,090 shares during the period. Institutional investors and hedge funds own 84.02% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NU shares. JPMorgan Chase & Co. upped their price objective on NU from $14.50 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. Susquehanna raised their price target on NU from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Wednesday, May 14th. Itau BBA Securities upgraded NU from a "market perform" rating to an "outperform" rating and set a $18.00 price target for the company in a research note on Monday. Barclays raised their price target on NU from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Morgan Stanley restated an "overweight" rating on shares of NU in a research note on Friday, June 13th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NU has a consensus rating of "Moderate Buy" and a consensus price target of $15.78.

NU Stock Performance

NU traded down $0.2110 during trading on Tuesday, hitting $13.1190. The stock had a trading volume of 69,897,597 shares, compared to its average volume of 57,173,176. The company has a 50 day moving average price of $12.79 and a 200-day moving average price of $12.15. The firm has a market cap of $63.22 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 0.74 and a beta of 1.05. Nu Holdings Ltd. has a one year low of $9.01 and a one year high of $16.15. 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 released its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.78 billion. NU had a return on equity of 31.42% and a net margin of 17.90%.During the same period in the previous year, the company posted $0.12 EPS. As a group, research analysts predict that Nu Holdings Ltd. will post 0.58 EPS for the current year.

About NU

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.