Cary Street Partners Asset Management LLC Sells 5,000 Shares of Nu Holdings Ltd. (NYSE:NU)

Cary Street Partners Asset Management LLC reduced its stake in Nu Holdings Ltd. (NYSE:NU) by 21.2% during the third quarter, Holdings Channel.com reports. The fund owned 18,561 shares of the company’s stock after selling 5,000 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in NU were worth $253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of NU by 287.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock worth $26,000 after buying an additional 1,422 shares during the period. GAMMA Investing LLC lifted its stake in NU by 56.2% in the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock worth $29,000 after acquiring an additional 815 shares during the period. Carolina Wealth Advisors LLC purchased a new stake in shares of NU in the 3rd quarter worth approximately $44,000. Toth Financial Advisory Corp bought a new position in shares of NU during the third quarter valued at approximately $55,000. Finally, ORG Partners LLC bought a new position in NU in the second quarter worth approximately $54,000. Institutional investors own 80.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NU. Bank of America raised their price objective on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Barclays lifted their price objective on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. The Goldman Sachs Group increased their target price on shares of NU from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. UBS Group downgraded NU from a “buy” rating to a “neutral” rating and set a $13.50 price target on the stock. in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.21.

NU Stock Performance

NYSE NU opened at $14.67 on Wednesday. The stock has a market capitalization of $69.92 billion, a price-to-earnings ratio of 47.32, a PEG ratio of 0.65 and a beta of 1.13. The stock has a 50-day moving average of $14.35 and a 200 day moving average of $12.96. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. Nu Holdings Ltd. has a twelve month low of $7.74 and a twelve month high of $15.98.

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

About NU

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.