ARK Investment Management LLC Sells 238,706 Shares of Nu Holdings Ltd. (NYSE:NU)

ARK Investment Management LLC cut its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 10.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,115,644 shares of the company’s stock after selling 238,706 shares during the quarter. ARK Investment Management LLC’s holdings in NU were worth $28,879,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Capital Research Global Investors grew its holdings in shares of NU by 15.7% during the first quarter. Capital Research Global Investors now owns 202,618,338 shares of the company’s stock worth $2,417,237,000 after purchasing an additional 27,420,994 shares during the last quarter. Baillie Gifford & Co. lifted its position in NU by 9.7% during the 2nd quarter. Baillie Gifford & Co. now owns 185,963,035 shares of the company’s stock worth $2,397,064,000 after buying an additional 16,512,911 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in NU by 0.8% during the 1st quarter. Whale Rock Capital Management LLC now owns 25,004,827 shares of the company’s stock worth $298,308,000 after acquiring an additional 204,305 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in NU by 10.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 19,976,979 shares of the company’s stock valued at $272,686,000 after acquiring an additional 1,828,143 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of NU by 23.0% in the second quarter. Sei Investments Co. now owns 18,927,977 shares of the company’s stock worth $243,982,000 after acquiring an additional 3,544,124 shares during the last quarter. Institutional investors own 80.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NU. UBS Group cut shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target on the stock. in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price objective on NU from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Bank of America lifted their target price on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Susquehanna reaffirmed a “positive” rating and set a $16.00 price target on shares of NU in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted their price objective on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, NU currently has an average rating of “Moderate Buy” and a consensus target price of $15.21.

NU Trading Up 1.3 %

Shares of NYSE NU opened at $15.23 on Friday. The company’s fifty day moving average is $14.38 and its 200-day moving average is $13.02. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market cap of $72.59 billion, a price-to-earnings ratio of 49.13, a P/E/G ratio of 0.65 and a beta of 1.13. Nu Holdings Ltd. has a twelve month low of $7.74 and a twelve month high of $15.98.

NU (NYSE:NU) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. NU had a return on equity of 27.00% and a net margin of 15.11%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the firm posted $0.05 earnings per share. Equities research analysts predict that Nu Holdings Ltd. will post 0.41 EPS 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.