Van ECK Associates Corp Lowers Stock Holdings in Nu Holdings Ltd. (NYSE:NU)

Van ECK Associates Corp lowered its position in shares of Nu Holdings Ltd. (NYSE:NU) by 22.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 589,853 shares of the company’s stock after selling 174,248 shares during the quarter. Van ECK Associates Corp’s holdings in NU were worth $8,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV grew its position in NU by 287.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock worth $26,000 after acquiring an additional 1,422 shares during the period. GAMMA Investing LLC increased its position in shares of NU by 56.2% during the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock worth $29,000 after purchasing an additional 815 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of NU during the third quarter worth about $44,000. ORG Partners LLC acquired a new position in NU in the 2nd quarter valued at about $54,000. Finally, Toth Financial Advisory Corp acquired a new position in NU in the 3rd quarter valued at about $55,000. Institutional investors and hedge funds own 80.90% of the company’s stock.

Analysts Set New Price Targets

NU has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on NU from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Barclays boosted their price target on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Susquehanna restated a “positive” rating and set a $16.00 price objective on shares of NU in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, UBS Group cut shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target for the company. in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.21.

NU Stock Performance

NYSE:NU opened at $15.03 on Thursday. The company has a market cap of $71.63 billion, a price-to-earnings ratio of 48.48, a PEG ratio of 0.65 and a beta of 1.13. The firm’s 50-day moving average is $14.35 and its 200-day moving average is $12.99. Nu Holdings Ltd. has a 52-week low of $7.74 and a 52-week high of $15.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.49.

NU (NYSE:NU) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. NU had a net margin of 15.11% and a return on equity of 27.00%. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the firm earned $0.05 earnings per share. Equities research analysts anticipate 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.