Nu Holdings Ltd. $NU Shares Sold by Pictet Asset Management Holding SA

by · The Cerbat Gem

Pictet Asset Management Holding SA cut its holdings in Nu Holdings Ltd. (NYSE:NU – Free Report) by 8.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,502,618 shares of the company’s stock after selling 398,329 shares during the quarter. Pictet Asset Management Holding SA’s holdings in NU were worth $56,990,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of NU by 8.6% during the 1st quarter. Bank of America Corp DE now owns 45,966,932 shares of the company’s stock worth $660,545,000 after purchasing an additional 3,656,945 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of NU by 127.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 38,263,897 shares of the company’s stock valued at $484,421,000 after purchasing an additional 21,405,374 shares during the last quarter. Maverick Capital Ltd. lifted its stake in shares of NU by 91.6% in the 1st quarter. Maverick Capital Ltd. now owns 22,444,311 shares of the company’s stock valued at $322,525,000 after purchasing an additional 10,729,747 shares during the last quarter. Squadra Investments Gestao DE Recursos LTDA. lifted its stake in shares of NU by 266.8% in the 1st quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company’s stock valued at $320,631,000 after purchasing an additional 16,229,515 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its holdings in NU by 24.8% in the first quarter. Coronation Fund Managers Ltd. now owns 17,973,549 shares of the company’s stock worth $258,280,000 after purchasing an additional 3,570,451 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NU

In other NU news, CEO Cristina Junqueira sold 65,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total value of $956,150.00. Following the completion of the sale, the chief executive officer directly owned 2,542,083 shares of the company’s stock, valued at $37,394,040.93. This represents a 2.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $15.81, for a total transaction of $3,505,187.67. Following the completion of the sale, the insider owned 979,446 shares in the company, valued at $15,485,041.26. This represents a 18.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 386,707 shares of company stock valued at $6,001,588.

NU Stock Performance

NU opened at $12.35 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $13.97 and its two-hundred day moving average price is $14.33. The firm has a market capitalization of $59.94 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 0.49 and a beta of 0.97. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98.

NU (NYSE:NU – Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.22 EPS for the quarter. The company had revenue of $5.88 billion during the quarter. NU had a return on equity of 31.59% and a net margin of 18.65%. On average, equities analysts forecast that Nu Holdings Ltd. will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of NU in a research report on Monday, September 28th. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $20.00 to $18.00 in a research note on Wednesday, September 16th. Susquehanna upped their price objective on shares of NU from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Weiss Ratings lowered shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Finally, Monness Crespi & Hardt began coverage on shares of NU in a report on Monday, October 26th. They issued a “buy” rating and a $20.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

Read Our Latest Research Report on NU

NU Company Profile

(Free Report)

Nu Holdings Ltd., which operates under the Nubank brand, is a digital financial services company founded in Brazil in 2013. It provides banking and related services through mobile apps and other digital channels, with a focus on simplifying access to financial products.

Its offerings include digital accounts, payment cards, credit products, personal loans, and investment services. The company also provides services to small businesses, with products and availability varying by country.

Nu serves customers in Brazil, Mexico, and Colombia.

See Also

Want to see what other hedge funds are holding NU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nu Holdings Ltd. (NYSE:NU – Free Report).