Baillie Gifford & Co. Trims Stake in Nu Holdings Ltd. $NU

Baillie Gifford & Co. cut its position in shares of Nu Holdings Ltd. (NYSE:NU) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 251,459,587 shares of the company’s stock after selling 9,522,201 shares during the period. NU makes up 3.0% of Baillie Gifford & Co.’s portfolio, making the stock its 12th largest holding. Baillie Gifford & Co. owned about 5.22% of NU worth $4,025,868,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. lifted its stake in NU by 0.7% in the third quarter. Resona Asset Management Co. Ltd. now owns 907,648 shares of the company’s stock worth $14,524,000 after purchasing an additional 6,226 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of NU by 28.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,521,103 shares of the company’s stock worth $120,413,000 after acquiring an additional 1,652,321 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of NU by 18.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 482,003 shares of the company’s stock worth $7,717,000 after acquiring an additional 75,164 shares during the last quarter. Myriad Asset Management US LP purchased a new position in NU during the 3rd quarter valued at $2,053,000. Finally, Spear Holdings RSC Ltd grew its position in NU by 63.5% in the 3rd quarter. Spear Holdings RSC Ltd now owns 5,347,000 shares of the company’s stock valued at $85,605,000 after acquiring an additional 2,077,414 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NU shares. UBS Group lifted their target price on NU from $16.00 to $18.40 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. KeyCorp lifted their price objective on shares of NU from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of NU in a research report on Wednesday, October 8th. Susquehanna raised their target price on shares of NU from $17.00 to $19.00 and gave the stock a “positive” rating in a research report on Friday, November 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 price target on shares of NU in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.04.

NU Stock Up 0.2%

Shares of NU stock opened at $18.03 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $86.89 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 0.59 and a beta of 1.08. The firm’s 50-day moving average is $16.81 and its two-hundred day moving average is $15.34. Nu Holdings Ltd. has a 1 year low of $9.01 and a 1 year high of $18.37.

NU (NYSE:NU) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. NU had a net margin of 17.97% and a return on equity of 30.12%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.96 billion. As a group, research analysts expect that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

NU Company Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.