Thornburg Investment Management Inc. Lowers Stock Position in Nu Holdings Ltd. (NYSE:NU)

Key Points

• Thornburg Investment Management Inc. reduced its stake in Nu Holdings Ltd. by 3.6%, now owning 1,445,548 shares valued at approximately $14.8 million after selling 53,582 shares.
• Several institutional investors, including NBC Securities Inc. and TFC Financial Management Inc., increased their positions in Nu Holdings, with NBC raising its holdings by an astounding 286,000%.
• Analysts have a generally positive outlook for Nu Holdings, with an average target price of $15.50 and a majority giving the stock a "Moderate Buy" rating despite a recent earnings miss.

Thornburg Investment Management Inc. decreased its stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,445,548 shares of the company's stock after selling 53,582 shares during the period. Thornburg Investment Management Inc.'s holdings in NU were worth $14,802,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of NU by 2,069.9% during the 1st quarter. GAMMA Investing LLC now owns 72,192 shares of the company's stock worth $7,050,000 after purchasing an additional 68,865 shares during the period. Allspring Global Investments Holdings LLC bought a new position in NU during the first quarter valued at about $113,000. Cetera Investment Advisers increased its holdings in NU by 6.0% during the fourth quarter. Cetera Investment Advisers now owns 194,295 shares of the company's stock worth $2,013,000 after buying an additional 10,955 shares during the last quarter. SG Americas Securities LLC raised its position in NU by 212.1% in the first quarter. SG Americas Securities LLC now owns 83,401 shares of the company's stock worth $854,000 after acquiring an additional 56,682 shares during the period. Finally, Unison Asset Management LLC boosted its stake in NU by 3.1% in the first quarter. Unison Asset Management LLC now owns 1,261,650 shares of the company's stock valued at $12,798,000 after acquiring an additional 37,888 shares during the last quarter. Institutional investors own 84.02% of the company's stock.

NU Stock Performance

Shares of NYSE:NU traded down $0.41 during trading on Thursday, hitting $12.21. 46,454,525 shares of the company were exchanged, compared to its average volume of 61,915,336. The company has a market cap of $58.85 billion, a PE ratio of 28.40, a P/E/G ratio of 0.71 and a beta of 1.07. Nu Holdings Ltd. has a 52-week low of $9.01 and a 52-week 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. The stock has a 50 day moving average of $12.72 and a 200 day moving average of $12.12.

NU (NYSE:NU - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). NU had a return on equity of 30.77% and a net margin of 17.88%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the business earned $0.09 EPS. As a group, equities research analysts predict that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Analyst Ratings Changes

NU has been the subject of several research analyst reports. Morgan Stanley restated an "overweight" rating on shares of NU in a research note on Friday, June 13th. JPMorgan Chase & Co. raised their target price on NU from $14.50 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. Susquehanna boosted their target price on NU from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Wednesday, May 14th. Finally, Barclays increased their price target on NU from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, NU presently 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.