Victory Capital Management Inc. Sells 344,456 Shares of Nu Holdings Ltd. (NYSE:NU)

Key Points

• Victory Capital Management Inc. reduced its stake in Nu Holdings Ltd. by 32.9%, selling 344,456 shares, and now holds 703,928 shares valued at $7.2 million.
• Nu Holdings reported $0.11 EPS for the quarter, missing the expectations of $0.12, but exceeded revenue forecasts with $3.25 billion in revenue.
• Research analysts show a consensus of "Moderate Buy" for NU stock, with an average price target of $15.50.

Victory Capital Management Inc. lessened its stake in Nu Holdings Ltd. (NYSE:NU - Free Report) by 32.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 703,928 shares of the company's stock after selling 344,456 shares during the quarter. Victory Capital Management Inc.'s holdings in NU were worth $7,208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tectonic Advisors LLC raised its holdings in NU by 36.5% during the 1st quarter. Tectonic Advisors LLC now owns 14,569 shares of the company's stock valued at $149,000 after acquiring an additional 3,893 shares during the period. Larson Financial Group LLC grew its position in shares of NU by 1,433.5% during the 1st quarter. Larson Financial Group LLC now owns 23,677 shares of the company's stock valued at $242,000 after purchasing an additional 22,133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of NU by 28.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 68,544 shares of the company's stock valued at $702,000 after purchasing an additional 15,344 shares in the last quarter. Whittier Trust Co. grew its position in shares of NU by 17.3% during the 1st quarter. Whittier Trust Co. now owns 142,545 shares of the company's stock valued at $1,460,000 after purchasing an additional 21,032 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of NU by 22.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 206,065 shares of the company's stock valued at $2,110,000 after purchasing an additional 38,349 shares in the last quarter. Institutional investors own 84.02% of the company's stock.

NU Stock Down 0.2%

Shares of NYSE:NU opened at $12.73 on Friday. Nu Holdings Ltd. has a 52-week low of $9.01 and a 52-week high of $16.15. The firm has a fifty day moving average of $12.72 and a 200 day moving average of $12.09. The firm has a market capitalization of $61.32 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 0.72 and a beta of 1.07. 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 (NYSE:NU - Get Free Report) last announced its 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 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 analysts' expectations of $3.09 billion. During the same quarter last year, the firm posted $0.09 earnings per share. As a group, research analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Susquehanna boosted their price target on shares of NU from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Wednesday, May 14th. Morgan Stanley restated an "overweight" rating on shares of NU in a research report on Friday, June 13th. Barclays boosted their price target on shares of NU from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of NU from $14.50 to $16.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, NU has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.