Platform Technology Partners Sells 9,000 Shares of Nu Holdings Ltd. (NYSE:NU)

Platform Technology Partners lessened its stake in Nu Holdings Ltd. (NYSE:NU) by 20.1% in the third quarter, HoldingsChannel reports. The firm owned 35,669 shares of the company’s stock after selling 9,000 shares during the period. Platform Technology Partners’ holdings in NU were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in NU by 15.7% in the first quarter. Capital Research Global Investors now owns 202,618,338 shares of the company’s stock valued at $2,417,237,000 after acquiring an additional 27,420,994 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of NU by 13.0% in the third quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company’s stock worth $2,867,912,000 after buying an additional 24,140,416 shares during the last quarter. American Century Companies Inc. grew its position in NU by 73.1% during the second quarter. American Century Companies Inc. now owns 17,237,693 shares of the company’s stock valued at $222,194,000 after buying an additional 7,279,458 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in NU by 83.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,839,210 shares of the company’s stock valued at $188,905,000 after buying an additional 6,313,657 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in NU by 216.4% in the first quarter. 1832 Asset Management L.P. now owns 8,028,600 shares of the company’s stock worth $95,781,000 after acquiring an additional 5,490,800 shares during the period. 80.90% of the stock is currently owned by hedge funds and other institutional investors.

NU Trading Up 4.4 %

NU stock opened at $15.90 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. The business has a 50 day simple moving average of $14.41 and a two-hundred day simple moving average of $13.12. Nu Holdings Ltd. has a 1-year low of $7.74 and a 1-year high of $16.01. The company has a market capitalization of $75.78 billion, a price-to-earnings ratio of 51.29, a PEG ratio of 0.69 and a beta of 1.13.

NU (NYSE:NU) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. NU had a return on equity of 27.00% and a net margin of 15.11%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the business posted $0.05 earnings per share. Research analysts anticipate that Nu Holdings Ltd. will post 0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price objective on shares of NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. upped their price target on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. UBS Group cut NU from a “buy” rating to a “neutral” rating and set a $13.50 price objective on the stock. in a research report on Friday, August 2nd. Barclays increased their target price on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Susquehanna reaffirmed a “positive” rating and set a $16.00 price target on shares of NU in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.21.

NU 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.