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

Salem Investment Counselors Inc. decreased its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,166,113 shares of the company’s stock after selling 166,644 shares during the quarter. 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 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Matrix Trust Co bought a new stake in shares of NU in the 4th quarter valued at $143,000. West Oak Capital LLC bought a new position in NU during the 4th quarter worth about $837,000. Graypoint LLC bought a new position in NU during the 4th quarter worth about $6,775,000. Wealth Enhancement Advisory Services LLC increased its holdings in NU by 1.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 69,110 shares of the company’s stock worth $716,000 after purchasing an additional 1,000 shares in the last quarter. Finally, First Hawaiian Bank increased its holdings in NU by 16.8% during the 4th quarter. First Hawaiian Bank now owns 102,786 shares of the company’s stock worth $1,065,000 after purchasing an additional 14,752 shares in the last quarter. Institutional investors own 84.02% of the company’s stock.

NU Stock Performance

NYSE:NU traded up $0.03 during mid-day trading on Monday, hitting $10.98. The stock had a trading volume of 17,001,784 shares, compared to its average volume of 25,644,082. Nu Holdings Ltd. has a twelve month low of $8.51 and a twelve month high of $16.15. The stock has a market cap of $52.33 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 0.59 and a beta of 1.05. The company’s 50 day simple moving average is $12.42 and its 200 day simple moving average is $13.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NU. Susquehanna increased 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. KeyCorp increased their price objective on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group increased their price objective on shares of NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Citigroup downgraded shares of NU from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $14.60 to $11.00 in a research note on Monday, December 2nd. Finally, Itau BBA Securities downgraded shares of NU from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, NU currently has a consensus rating of “Hold” and a consensus price target of $15.63.

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.