Advisors Asset Management Inc. Cuts Stake in Nu Holdings Ltd. (NYSE:NU)

Advisors Asset Management Inc. cut its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 16.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,834 shares of the company’s stock after selling 7,074 shares during the quarter. Advisors Asset Management Inc.’s holdings in NU were worth $475,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Baillie Gifford & Co. grew its holdings in shares of NU by 13.0% during the third quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company’s stock valued at $2,867,912,000 after buying an additional 24,140,416 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of NU by 7.1% during the third quarter. Jennison Associates LLC now owns 96,754,946 shares of the company’s stock valued at $1,320,705,000 after buying an additional 6,435,526 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of NU by 10.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 19,976,979 shares of the company’s stock valued at $272,686,000 after buying an additional 1,828,143 shares during the last quarter. Sei Investments Co. boosted its holdings in NU by 23.0% in the second quarter. Sei Investments Co. now owns 18,927,977 shares of the company’s stock valued at $243,982,000 after purchasing an additional 3,544,124 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in NU by 73.1% in the second quarter. American Century Companies Inc. now owns 17,237,693 shares of the company’s stock valued at $222,194,000 after purchasing an additional 7,279,458 shares during the last quarter. 80.90% of the stock is owned by hedge funds and other institutional investors.

NU Trading Down 2.9 %

Shares of NU stock opened at $13.53 on Thursday. Nu Holdings Ltd. has a fifty-two week low of $8.04 and a fifty-two week high of $16.15. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a 50-day simple moving average of $14.37 and a two-hundred day simple moving average of $13.34. The company has a market cap of $64.48 billion, a P/E ratio of 37.58, a price-to-earnings-growth ratio of 0.64 and a beta of 1.13.

Wall Street Analysts Forecast Growth

NU has been the topic of several recent research reports. Bank of America upped their price target on shares of NU from $12.80 to $15.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. KeyCorp upped their price target on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Susquehanna upped their price target on shares of NU from $16.00 to $18.00 and gave the company a “positive” rating in a report on Thursday, November 14th. The Goldman Sachs Group upped their price target on shares of NU from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Barclays upped their price target on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.21.

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.