Sumitomo Mitsui Trust Group Inc. Reduces Stake in Nu Holdings Ltd. $NU

Sumitomo Mitsui Trust Group Inc. reduced its stake in Nu Holdings Ltd. (NYSE:NU) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,991,372 shares of the company’s stock after selling 366,739 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in NU were worth $164,522,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of NU by 111.9% in the 1st quarter. GAMMA Investing LLC now owns 7,050 shares of the company’s stock valued at $72,000 after purchasing an additional 3,723 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of NU by 6.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 282,317 shares of the company’s stock valued at $2,891,000 after purchasing an additional 17,532 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of NU by 463.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 76,891 shares of the company’s stock valued at $787,000 after purchasing an additional 63,241 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in NU by 12.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 66,983 shares of the company’s stock worth $686,000 after acquiring an additional 7,556 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in NU by 15.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 505,540 shares of the company’s stock worth $5,177,000 after acquiring an additional 69,442 shares in the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

NU Price Performance

Shares of NYSE NU opened at $15.86 on Friday. The stock’s 50-day simple moving average is $15.17 and its 200-day simple moving average is $13.33. The firm has a market capitalization of $76.40 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 0.83 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.57. Nu Holdings Ltd. has a fifty-two week low of $9.01 and a fifty-two week high of $16.42.

NU (NYSE:NU) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same quarter last year, the business posted $0.12 EPS. As a group, equities research analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NU has been the topic of several recent research reports. Susquehanna upped their price target on NU from $15.00 to $17.00 and gave the stock a “positive” rating in a report on Wednesday, August 27th. UBS Group upped their price target on NU from $15.60 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Santander upgraded NU to a “neutral” rating in a report on Monday, August 25th. Bradesco Corretora upgraded NU to an “outperform” rating and set a $17.00 price target on the stock in a report on Monday, August 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NU in a report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.10.

About NU

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.