Sumitomo Mitsui Trust Group Inc. Sells 1,013,201 Shares of Nu Holdings Ltd. (NYSE:NU)

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Nu Holdings Ltd. (NYSE:NU) by 7.3% during the fourth quarter, HoldingsChannel reports. The fund owned 12,826,009 shares of the company’s stock after selling 1,013,201 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in NU were worth $132,877,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in NU by 13.0% during the 3rd quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company’s stock valued at $2,867,912,000 after purchasing an additional 24,140,416 shares during the last quarter. Jennison Associates LLC boosted its position in shares of NU by 7.1% during the third quarter. Jennison Associates LLC now owns 96,754,946 shares of the company’s stock valued at $1,320,705,000 after buying an additional 6,435,526 shares during the period. State Street Corp grew its stake in shares of NU by 105.9% during the third quarter. State Street Corp now owns 78,865,138 shares of the company’s stock valued at $1,076,509,000 after buying an additional 40,560,986 shares during the last quarter. FMR LLC grew its position in NU by 16.4% in the 3rd quarter. FMR LLC now owns 61,801,891 shares of the company’s stock valued at $843,596,000 after acquiring an additional 8,728,833 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of NU by 104.3% during the third quarter. Geode Capital Management LLC now owns 32,597,803 shares of the company’s stock worth $442,935,000 after purchasing an additional 16,638,397 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Stock Down 0.3 %

Shares of NYSE NU opened at $13.75 on Friday. Nu Holdings Ltd. has a 12-month low of $9.44 and a 12-month high of $16.15. The stock’s fifty day simple moving average is $11.64 and its two-hundred day simple moving average is $13.13. The stock has a market capitalization of $65.51 billion, a PE ratio of 38.18, a price-to-earnings-growth ratio of 0.47 and a beta of 1.10. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20.

Analyst Ratings Changes

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

NU Profile

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.