Short Interest in Nu Holdings Ltd. (NYSE:NU) Grows By 23.6%

Nu Holdings Ltd. (NYSE:NU) saw a significant increase in short interest in July. As of July 15th, there was short interest totalling 92,600,000 shares, an increase of 23.6% from the June 30th total of 74,930,000 shares. Based on an average daily trading volume, of 26,210,000 shares, the short-interest ratio is currently 3.5 days. Approximately 3.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. WCM Investment Management LLC grew its holdings in shares of NU by 1,157.4% during the first quarter. WCM Investment Management LLC now owns 99,965,627 shares of the company’s stock worth $1,192,590,000 after purchasing an additional 92,015,719 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in NU by 47.6% during the first quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock worth $2,021,540,000 after buying an additional 54,681,625 shares during the last quarter. Sands Capital Management LLC raised its position in shares of NU by 92.7% during the fourth quarter. Sands Capital Management LLC now owns 85,220,661 shares of the company’s stock worth $709,888,000 after purchasing an additional 40,992,413 shares during the period. Jennison Associates LLC raised its position in NU by 160.9% in the 4th quarter. Jennison Associates LLC now owns 65,813,072 shares of the company’s stock valued at $548,223,000 after buying an additional 40,584,189 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in NU by 20.7% in the fourth quarter. Capital Research Global Investors now owns 175,197,344 shares of the company’s stock valued at $1,459,403,000 after purchasing an additional 30,002,685 shares in the last quarter. 80.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NU has been the topic of a number of recent analyst reports. Barclays assumed coverage on shares of NU in a report on Wednesday, June 26th. They set an “overweight” rating and a $15.00 price target on the stock. Susquehanna raised their price objective on shares of NU from $14.00 to $16.00 and gave the company a “positive” rating in a research report on Tuesday, July 16th. Jefferies Financial Group raised their target price on shares of NU from $10.80 to $15.20 and gave the company a “buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. downgraded shares of NU from an “overweight” rating to a “neutral” rating and upped their price target for the company from $12.00 to $14.50 in a report on Monday, July 22nd. Finally, The Goldman Sachs Group upped their price target on shares of NU from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, NU presently has a consensus rating of “Moderate Buy” and an average target price of $12.98.

NU Stock Performance

NU stock traded up $0.04 during mid-day trading on Tuesday, reaching $12.26. The company had a trading volume of 3,810,322 shares, compared to its average volume of 28,497,959. The stock’s 50-day simple moving average is $12.34 and its two-hundred day simple moving average is $11.36. The stock has a market capitalization of $58.43 billion, a P/E ratio of 46.98, a P/E/G ratio of 0.58 and a beta of 1.14. NU has a one year low of $6.61 and a one year high of $13.64. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.21.

NU (NYSE:NU) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.58 billion. NU had a return on equity of 22.94% and a net margin of 13.86%. Research analysts anticipate that NU will post 0.41 EPS 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.