Deepwater Asset Management LLC Cuts Stock Holdings in Nu Holdings Ltd. $NU

Deepwater Asset Management LLC decreased its holdings in Nu Holdings Ltd. (NYSE:NU) by 19.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 891,896 shares of the company’s stock after selling 213,779 shares during the quarter. NU accounts for approximately 5.7% of Deepwater Asset Management LLC’s holdings, making the stock its 2nd largest position. Deepwater Asset Management LLC’s holdings in NU were worth $14,279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Verdence Capital Advisors LLC grew its position in NU by 1.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 44,508 shares of the company’s stock valued at $712,000 after buying an additional 804 shares in the last quarter. Canvas Wealth Advisors LLC lifted its stake in shares of NU by 4.9% in the 3rd quarter. Canvas Wealth Advisors LLC now owns 19,087 shares of the company’s stock worth $292,000 after acquiring an additional 900 shares during the period. Covestor Ltd increased its stake in shares of NU by 8.2% during the third quarter. Covestor Ltd now owns 12,194 shares of the company’s stock valued at $195,000 after acquiring an additional 919 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of NU by 15.3% during the third quarter. TD Waterhouse Canada Inc. now owns 7,324 shares of the company’s stock valued at $128,000 after acquiring an additional 972 shares during the period. Finally, Core Wealth Partners LLC lifted its position in NU by 8.0% in the third quarter. Core Wealth Partners LLC now owns 13,500 shares of the company’s stock worth $216,000 after purchasing an additional 1,000 shares during the period. 84.02% of the stock is currently owned by institutional investors.

NU Trading Down 2.9%

Shares of NU opened at $14.76 on Wednesday. The business’s 50-day moving average price is $17.07 and its 200 day moving average price is $16.19. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.39. The stock 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. Nu Holdings Ltd. has a 1-year low of $9.01 and a 1-year high of $18.98.

NU (NYSE:NU) last released its earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.55 billion. NU had a net margin of 18.19% and a return on equity of 30.68%. Analysts expect that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NU shares. Susquehanna lifted their price target on NU from $19.00 to $22.00 and gave the company a “positive” rating in a research report on Tuesday, January 27th. Santander raised NU from a “neutral” rating to an “outperform” rating in a report on Thursday, December 4th. Itau BBA Securities reiterated an “outperform” rating on shares of NU in a research report on Tuesday, February 24th. Zacks Research upgraded shares of NU from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of NU from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.34.

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.