Exchange Traded Concepts LLC Sells 43,361 Shares of Nu Holdings Ltd. (NYSE:NU)

Exchange Traded Concepts LLC decreased its position in shares of Nu Holdings Ltd. (NYSE:NU) by 8.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 451,404 shares of the company’s stock after selling 43,361 shares during the quarter. Exchange Traded Concepts LLC’s holdings in NU were worth $4,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its position in NU by 105.9% during the third quarter. State Street Corp now owns 78,865,138 shares of the company’s stock worth $1,076,509,000 after buying an additional 40,560,986 shares in the last quarter. Baillie Gifford & Co. raised its stake in NU by 13.0% in the third 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 in the last quarter. Geode Capital Management LLC lifted its position in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in NU by 458.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,147,349 shares of the company’s stock worth $193,111,000 after buying an additional 11,613,191 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in NU by 122.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 16,008,683 shares of the company’s stock valued at $165,850,000 after buying an additional 8,806,495 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.

Wall Street Analyst Weigh In

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

NU Stock Up 1.3 %

Shares of NYSE NU opened at $12.35 on Friday. Nu Holdings Ltd. has a 52-week low of $8.51 and a 52-week high of $16.15. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The company’s 50 day moving average price is $11.71 and its 200-day moving average price is $13.14. The company has a market capitalization of $58.84 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 0.43 and a beta of 1.05.

NU Company 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.