Wedbush Securities Inc. Sells 47,247 Shares of Nu Holdings Ltd. $NU

Wedbush Securities Inc. decreased its holdings in Nu Holdings Ltd. (NYSE:NU) by 73.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,388 shares of the company’s stock after selling 47,247 shares during the quarter. Wedbush Securities Inc.’s holdings in NU were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Rathbones Group PLC raised its stake in shares of NU by 119.0% in the second quarter. Rathbones Group PLC now owns 147,590 shares of the company’s stock worth $2,025,000 after buying an additional 80,200 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in NU in the 2nd quarter worth approximately $39,848,000. Sumitomo Mitsui Trust Group Inc. raised its stake in NU by 14.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,695,159 shares of the company’s stock worth $219,259,000 after acquiring an additional 1,703,787 shares during the period. Washington University lifted its holdings in NU by 1.5% during the third quarter. Washington University now owns 10,566,927 shares of the company’s stock valued at $169,177,000 after purchasing an additional 158,731 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of NU by 39.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 95,879 shares of the company’s stock worth $1,315,000 after purchasing an additional 27,335 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Santander upgraded shares of NU from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $21.00 price target on shares of NU in a research note on Thursday, December 18th. KeyCorp boosted their price objective on NU from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Zacks Research raised NU from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Finally, JPMorgan Chase & Co. lifted their target price on NU from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.34.

NU Price Performance

NYSE:NU opened at $16.83 on Tuesday. The business’s 50-day moving average is $17.14 and its 200 day moving average is $15.89. Nu Holdings Ltd. has a 12 month low of $9.01 and a 12 month high of $18.98. The company has a market capitalization of $81.12 billion, a P/E ratio of 33.01, a P/E/G ratio of 0.55 and a beta of 1.08. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29.

NU Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.