Salem Investment Counselors Inc. Sells 166,644 Shares of Nu Holdings Ltd. (NYSE:NU)

Salem Investment Counselors Inc. trimmed its position in shares of Nu Holdings Ltd. (NYSE:NU) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,166,113 shares of the company’s stock after selling 166,644 shares during the period. NU makes up approximately 0.7% of Salem Investment Counselors Inc.’s holdings, making the stock its 27th largest holding. Salem Investment Counselors Inc.’s holdings in NU were worth $22,441,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its stake in NU by 287.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock valued at $26,000 after acquiring an additional 1,422 shares during the period. Carolina Wealth Advisors LLC bought a new stake in shares of NU in the 3rd quarter valued at approximately $44,000. Toth Financial Advisory Corp bought a new stake in shares of NU in the 3rd quarter valued at approximately $55,000. GAMMA Investing LLC grew its stake in shares of NU by 81.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,119 shares of the company’s stock valued at $56,000 after purchasing an additional 1,855 shares during the period. Finally, Huntington National Bank grew its stake in shares of NU by 86.3% in the 3rd quarter. Huntington National Bank now owns 4,601 shares of the company’s stock valued at $63,000 after purchasing an additional 2,131 shares during the period. 84.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on NU. The Goldman Sachs Group upped their price objective on NU from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Citigroup lowered NU from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $14.60 to $11.00 in a research note on Monday, December 2nd. KeyCorp boosted their target price on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Susquehanna boosted their target price on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Itau BBA Securities downgraded NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, NU has an average rating of “Hold” and a consensus target price of $15.63.

NU Trading Up 0.3 %

NYSE:NU traded up $0.03 during trading hours on Monday, hitting $10.98. 17,001,784 shares of the stock were exchanged, compared to its average volume of 25,644,082. The company’s 50 day moving average is $12.42 and its two-hundred day moving average is $13.22. The company has a market capitalization of $52.33 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 0.59 and a beta of 1.05. Nu Holdings Ltd. has a twelve month low of $8.51 and a twelve month high of $16.15. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20.

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.