Coronation Fund Managers Ltd. Sells 2,989,876 Shares of Nu Holdings Ltd. (NYSE:NU)

Coronation Fund Managers Ltd. reduced its holdings in Nu Holdings Ltd. (NYSE:NU) by 40.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,487,302 shares of the company’s stock after selling 2,989,876 shares during the quarter. NU makes up 3.4% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 8th biggest holding. Coronation Fund Managers Ltd. owned approximately 0.09% of NU worth $61,252,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NU. Massmutual Trust Co. FSB ADV boosted its holdings in shares of NU by 287.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock valued at $26,000 after purchasing an additional 1,422 shares during the last quarter. GAMMA Investing LLC boosted its holdings in NU by 56.2% in the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock valued at $29,000 after acquiring an additional 815 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new position in NU in the third quarter valued at $44,000. ORG Partners LLC purchased a new stake in NU during the second quarter valued at about $54,000. Finally, Toth Financial Advisory Corp acquired a new stake in NU during the third quarter worth about $55,000. 80.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group cut NU from a “buy” rating to a “neutral” rating and set a $13.50 target price for the company. in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective 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. The Goldman Sachs Group raised their target price on shares of NU from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Barclays raised their target price on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Susquehanna restated a “positive” rating and issued a $16.00 price target on shares of NU in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.21.

NU Trading Down 5.0 %

Shares of NU opened at $14.34 on Friday. Nu Holdings Ltd. has a one year low of $7.74 and a one year high of $15.98. The stock has a 50-day moving average price of $14.35 and a 200 day moving average price of $12.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $68.34 billion, a P/E ratio of 46.26, a P/E/G ratio of 0.69 and a beta of 1.13.

NU (NYSE:NU) last released its earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same period in the prior year, the business posted $0.05 EPS. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.41 EPS for the current fiscal year.

NU Company Profile

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.