Avala Global LP Sells 2,288,970 Shares of Nu Holdings Ltd. (NYSE:NU)

Avala Global LP cut its holdings in Nu Holdings Ltd. (NYSE:NU - Free Report) by 35.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,158,480 shares of the company's stock after selling 2,288,970 shares during the period. NU comprises approximately 3.7% of Avala Global LP's holdings, making the stock its 10th biggest position. Avala Global LP owned 0.09% of NU worth $56,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Erste Asset Management GmbH bought a new stake in NU in the 3rd quarter valued at about $1,387,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in NU in the 3rd quarter valued at about $15,829,000. Maverick Capital Ltd. lifted its position in NU by 1.8% in the 3rd quarter. Maverick Capital Ltd. now owns 12,118,901 shares of the company's stock valued at $165,423,000 after purchasing an additional 213,672 shares during the last quarter. Kolinsky Wealth Management LLC acquired a new stake in shares of NU in the 3rd quarter worth approximately $288,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of NU by 171.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,281,901 shares of the company's stock worth $72,098,000 after acquiring an additional 3,339,036 shares during the period. 80.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NU shares. JPMorgan Chase & Co. upped their price target on shares of NU from $14.50 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, August 19th. Barclays upped their price target on shares of NU from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Friday, August 16th. Citigroup lowered shares of NU from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $14.60 to $11.00 in a research note on Monday. Susquehanna upped their price target on shares of NU from $16.00 to $18.00 and gave the stock a "positive" rating in a research note on Thursday, November 14th. Finally, KeyCorp increased their target price on shares of NU from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $15.63.

NU Stock Down 4.2 %

NU stock traded down $0.53 during trading hours on Monday, hitting $12.00. The company had a trading volume of 95,071,604 shares, compared to its average volume of 33,200,215. The firm has a market capitalization of $57.19 billion, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 0.61 and a beta of 1.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44. The firm's fifty day moving average is $14.28 and its 200-day moving average is $13.37. Nu Holdings Ltd. has a fifty-two week low of $8.06 and a fifty-two week high of $16.15.

About NU

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.