Nu Holdings Ltd. (NYSE:NU) Stake Cut by Genesis Investment Management LLP

Genesis Investment Management LLP decreased its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 31.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,816,062 shares of the company’s stock after selling 4,473,762 shares during the period. NU accounts for 16.0% of Genesis Investment Management LLP’s portfolio, making the stock its 2nd largest position. Genesis Investment Management LLP’s holdings in NU were worth $81,768,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Carnegie Capital Asset Management LLC increased its position in shares of NU by 0.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,465,260 shares of the company’s stock valued at $12,206,000 after purchasing an additional 7,300 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of NU during the 4th quarter valued at about $135,000. Triasima Portfolio Management inc. bought a new position in shares of NU during the 4th quarter valued at about $1,662,000. WCM Investment Management LLC purchased a new stake in NU in the 4th quarter worth approximately $66,541,000. Finally, NewEdge Wealth LLC purchased a new stake in NU in the 4th quarter worth approximately $312,000. 80.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NU shares. UBS Group increased their price objective on NU from $10.50 to $11.50 and gave the stock a “buy” rating in a report on Monday, January 29th. Susquehanna increased their price objective on NU from $11.00 to $12.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Finally, TheStreet upgraded NU from a “c+” rating to a “b” rating in a report on Friday, March 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.67.

NU Stock Down 1.0 %

NU stock traded down $0.11 on Wednesday, reaching $10.84. 17,143,755 shares of the company traded hands, compared to its average volume of 19,830,582. Nu Holdings Ltd. has a one year low of $4.51 and a one year high of $12.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.38 and a quick ratio of 0.31. The company has a market cap of $50.89 billion, a P/E ratio of 51.62, a price-to-earnings-growth ratio of 0.54 and a beta of 1.08. The firm has a fifty day simple moving average of $11.21 and a 200-day simple moving average of $9.35.

NU (NYSE:NU) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). NU had a net margin of 12.84% and a return on equity of 20.02%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the business earned $0.03 EPS. Research analysts anticipate that Nu Holdings Ltd. will post 0.39 earnings per share for the current year.

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.