Assetmark Inc. Sells 6,544 Shares of Nu Holdings Ltd. $NU

Assetmark Inc. lessened its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 44.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,169 shares of the company’s stock after selling 6,544 shares during the period. Assetmark Inc.’s holdings in NU were worth $112,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Armstrong Advisory Group Inc. acquired a new stake in shares of NU during the second quarter worth $27,000. Capital Analysts LLC acquired a new position in NU in the 1st quarter worth approximately $31,000. ORG Partners LLC boosted its position in NU by 474.1% during the second quarter. ORG Partners LLC now owns 2,325 shares of the company’s stock worth $32,000 after purchasing an additional 1,920 shares in the last quarter. Quaker Wealth Management LLC increased its position in shares of NU by 212.7% in the second quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $32,000 after buying an additional 4,341 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new position in shares of NU during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Price Performance

Shares of NU opened at $15.85 on Monday. The firm’s 50 day moving average price is $15.56 and its 200 day moving average price is $13.75. The company has a market cap of $76.38 billion, a P/E ratio of 34.46, a PEG ratio of 0.82 and a beta of 1.08. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.24. Nu Holdings Ltd. has a fifty-two week low of $9.01 and a fifty-two week high of $16.50.

NU (NYSE:NU) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NU had a return on equity of 29.91% and a net margin of 17.90%.The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the firm earned $0.12 earnings per share. On average, research analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on NU shares. Weiss Ratings reiterated a “hold (c)” rating on shares of NU in a research report on Wednesday, October 8th. Santander raised NU to a “neutral” rating in a research note on Monday, August 25th. Bradesco Corretora upgraded NU to an “outperform” rating and set a $17.00 price target for the company in a report on Monday, August 25th. Bank of America boosted their price objective on shares of NU from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Finally, Citigroup raised shares of NU from a “sell” rating to a “buy” rating and increased their target price for the stock from $9.00 to $18.00 in a research note on Wednesday, August 20th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, NU presently has an average rating of “Moderate Buy” and an average price target of $17.10.

NU Company Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.