Russell Investments Group Ltd. Sells 846,424 Shares of Nu Holdings Ltd. (NYSE:NU)

Key Points

• Russell Investments Group Ltd. sold 846,424 shares of Nu Holdings Ltd., reducing its ownership by 15.9%, now holding approximately 4.47 million shares valued at $45.75 million.
• Nu Holdings reported a net margin of 17.88% for the quarter with revenue reaching $3.25 billion, exceeding analyst estimates.
• Wall Street analysts maintain a Moderate Buy rating on NU, with an average price target of $15.50, following several price target upgrades from major firms.

Russell Investments Group Ltd. reduced its holdings in Nu Holdings Ltd. (NYSE:NU - Free Report) by 15.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,466,030 shares of the company's stock after selling 846,424 shares during the period. Russell Investments Group Ltd. owned approximately 0.09% of NU worth $45,747,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of NU by 2,069.9% during the first quarter. GAMMA Investing LLC now owns 72,192 shares of the company's stock valued at $7,050,000 after purchasing an additional 68,865 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of NU during the first quarter valued at approximately $113,000. Cetera Investment Advisers increased its position in shares of NU by 6.0% during the fourth quarter. Cetera Investment Advisers now owns 194,295 shares of the company's stock valued at $2,013,000 after purchasing an additional 10,955 shares during the period. SG Americas Securities LLC increased its position in shares of NU by 212.1% during the first quarter. SG Americas Securities LLC now owns 83,401 shares of the company's stock valued at $854,000 after purchasing an additional 56,682 shares during the period. Finally, Unison Asset Management LLC increased its position in shares of NU by 3.1% during the first quarter. Unison Asset Management LLC now owns 1,261,650 shares of the company's stock valued at $12,798,000 after purchasing an additional 37,888 shares during the period. 84.02% of the stock is owned by institutional investors.

NU Price Performance

NU stock opened at $12.38 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.54 and a current ratio of 0.54. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $16.15. The firm has a market cap of $59.65 billion, a P/E ratio of 28.79, a P/E/G ratio of 0.69 and a beta of 1.05. The business's fifty day moving average is $12.75 and its two-hundred day moving average is $12.16.

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

Wall Street Analysts Forecast Growth

NU has been the topic of a number of analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of NU in a research report on Friday, June 13th. JPMorgan Chase & Co. upped their price target on NU from $14.50 to $16.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. Susquehanna upped their price target on NU from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Wednesday, May 14th. Finally, Barclays boosted their price objective on NU from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. One equities 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $15.50.

NU 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.

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