IQ EQ FUND MANAGEMENT IRELAND Ltd Lowers Stock Position in Nu Holdings Ltd. (NYSE:NU)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 60.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,654 shares of the company’s stock after selling 16,265 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in NU were worth $137,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NU. WCM Investment Management LLC boosted its stake in shares of NU by 1,157.4% in the first quarter. WCM Investment Management LLC now owns 99,965,627 shares of the company’s stock valued at $1,192,590,000 after purchasing an additional 92,015,719 shares during the period. Baillie Gifford & Co. boosted its stake in shares of NU by 47.6% in the first quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock valued at $2,021,540,000 after purchasing an additional 54,681,625 shares during the period. Sands Capital Management LLC boosted its stake in shares of NU by 92.7% in the fourth quarter. Sands Capital Management LLC now owns 85,220,661 shares of the company’s stock valued at $709,888,000 after purchasing an additional 40,992,413 shares during the period. Capital Research Global Investors boosted its stake in shares of NU by 20.7% in the fourth quarter. Capital Research Global Investors now owns 175,197,344 shares of the company’s stock valued at $1,459,403,000 after purchasing an additional 30,002,685 shares during the period. Finally, Norges Bank purchased a new position in shares of NU in the fourth quarter valued at approximately $209,534,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of NU from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Barclays lifted their price target on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Susquehanna reiterated a “positive” rating and issued a $16.00 price target on shares of NU in a research note on Thursday, August 15th. UBS Group downgraded shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target for the company. in a research note on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price target on shares of NU from $10.80 to $15.20 and gave the stock a “buy” rating in a research note on Monday, June 24th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, NU presently has an average rating of “Moderate Buy” and an average price target of $13.43.

NU Stock Up 2.6 %

NU stock traded up $0.37 during midday trading on Friday, reaching $14.60. 47,685,738 shares of the company were exchanged, compared to its average volume of 30,146,316. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.40 and a current ratio of 0.40. Nu Holdings Ltd. has a 1-year low of $6.63 and a 1-year high of $14.85. The stock’s 50-day simple moving average is $12.91 and its 200 day simple moving average is $11.94. The company has a market cap of $69.58 billion, a price-to-earnings ratio of 54.71, a price-to-earnings-growth ratio of 0.54 and a beta of 1.13.

NU (NYSE:NU) last announced its earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.90 billion. NU had a net margin of 13.86% and a return on equity of 22.94%. During the same period in the previous year, the company posted $0.05 EPS. On average, equities analysts forecast that Nu Holdings Ltd. will post 0.41 earnings per share for the current year.

NU Company Profile

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.