Adero Partners LLC Cuts Stock Holdings in Nu Holdings Ltd. (NYSE:NU)

Adero Partners LLC lessened its position in shares of Nu Holdings Ltd. (NYSE:NU) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,683,097 shares of the company’s stock after selling 136,258 shares during the period. NU comprises 3.1% of Adero Partners LLC’s holdings, making the stock its 10th largest position. Adero Partners LLC’s holdings in NU were worth $48,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC bought a new position in NU in the third quarter valued at $98,704,000. Thrivent Financial for Lutherans boosted its stake in shares of NU by 23.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock worth $3,517,000 after buying an additional 48,445 shares during the last quarter. Summit Partners Public Asset Management LLC grew its holdings in shares of NU by 20.0% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company’s stock valued at $4,095,000 after acquiring an additional 50,000 shares in the last quarter. Baader Bank Aktiengesellschaft increased its position in shares of NU by 19.6% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 355,332 shares of the company’s stock valued at $3,680,000 after acquiring an additional 58,183 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in NU by 6.2% during the third quarter. Royal London Asset Management Ltd. now owns 1,305,453 shares of the company’s stock worth $17,819,000 after acquiring an additional 76,009 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Stock Performance

Shares of NU stock opened at $13.57 on Thursday. The company has a market capitalization of $64.66 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 0.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. Nu Holdings Ltd. has a 52 week low of $9.24 and a 52 week high of $16.15. The company has a 50-day simple moving average of $11.61 and a 200 day simple moving average of $13.12.

Analysts Set New Price Targets

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

About NU

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.