Handelsbanken Fonder AB Sells 18,500 Shares of Nu Holdings Ltd. $NU

Handelsbanken Fonder AB reduced its holdings in Nu Holdings Ltd. (NYSE:NU) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,368,660 shares of the company’s stock after selling 18,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in NU were worth $18,778,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its holdings in shares of NU by 25.4% in the first quarter. Venturi Wealth Management LLC now owns 23,347 shares of the company’s stock valued at $239,000 after purchasing an additional 4,725 shares in the last quarter. Wedbush Securities Inc. raised its holdings in NU by 9.3% in the first quarter. Wedbush Securities Inc. now owns 65,533 shares of the company’s stock worth $671,000 after purchasing an additional 5,587 shares during the period. Avantax Advisory Services Inc. grew its stake in NU by 9.2% in the first quarter. Avantax Advisory Services Inc. now owns 82,960 shares of the company’s stock valued at $850,000 after acquiring an additional 7,016 shares during the period. Cetera Investment Advisers increased its stake in NU by 2.1% during the 1st quarter. Cetera Investment Advisers now owns 198,451 shares of the company’s stock worth $2,032,000 after purchasing an additional 4,156 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in NU by 14.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 573,462 shares of the company’s stock valued at $5,872,000 after acquiring an additional 72,462 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Stock Performance

Shares of NU stock opened at $15.90 on Friday. Nu Holdings Ltd. has a 12 month low of $9.01 and a 12 month high of $16.55. The company has a current ratio of 0.56, a quick ratio of 0.57 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $76.62 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 0.80 and a beta of 1.08. The business’s 50-day moving average price is $15.68 and its 200-day moving average price is $13.99.

NU (NYSE:NU) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $3.96 billion. NU had a net margin of 17.97% and a return on equity of 30.12%. Equities research analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NU shares. UBS Group raised their price target on shares of NU from $15.60 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Bradesco Corretora upgraded NU to an “outperform” rating and set a $17.00 price target on the stock in a research note on Monday, August 25th. Citigroup upgraded NU from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $18.00 in a report on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NU in a research report on Wednesday, October 8th. Finally, KeyCorp lifted their price objective on NU from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, NU has a consensus rating of “Moderate Buy” and an average price target of $17.44.

NU Company 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.