Nu Holdings Ltd. $NU is Deepwater Asset Management LLC’s 2nd Largest Position

Deepwater Asset Management LLC trimmed its position in shares of Nu Holdings Ltd. (NYSE:NU) by 19.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 891,896 shares of the company’s stock after selling 213,779 shares during the period. NU makes up about 5.7% of Deepwater Asset Management LLC’s holdings, making the stock its 2nd biggest holding. Deepwater Asset Management LLC’s holdings in NU were worth $14,279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rathbones Group PLC increased its holdings in NU by 119.0% during the 2nd quarter. Rathbones Group PLC now owns 147,590 shares of the company’s stock worth $2,025,000 after purchasing an additional 80,200 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of NU in the second quarter worth $39,848,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in NU by 14.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,695,159 shares of the company’s stock valued at $219,259,000 after acquiring an additional 1,703,787 shares in the last quarter. Washington University boosted its stake in NU by 1.5% during the 3rd quarter. Washington University now owns 10,566,927 shares of the company’s stock valued at $169,177,000 after acquiring an additional 158,731 shares during the last quarter. Finally, Mawer Investment Management Ltd. acquired a new position in NU during the 3rd quarter worth $10,829,000. Institutional investors and hedge funds own 84.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NU shares. Zacks Research upgraded shares of NU from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. UBS Group lifted their target price on NU from $16.00 to $18.40 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Weiss Ratings upgraded NU from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. The Goldman Sachs Group reissued a “buy” rating and set a $21.00 price target on shares of NU in a research report on Thursday, December 18th. Finally, Susquehanna boosted their target price on shares of NU from $19.00 to $22.00 and gave the company a “positive” rating in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.34.

NU Trading Down 2.9%

NYSE:NU opened at $14.76 on Wednesday. The firm has a market capitalization of $71.10 billion, a P/E ratio of 25.44, a P/E/G ratio of 0.49 and a beta of 1.11. The business has a 50 day simple moving average of $17.07 and a 200 day simple moving average of $16.19. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.58 and a quick ratio of 0.56. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $18.98.

NU (NYSE:NU) last posted its earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.55 billion. NU had a return on equity of 30.68% and a net margin of 18.19%. Equities research analysts predict that Nu Holdings Ltd. will post 0.58 EPS for the current year.

NU Company 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.