a16z Perennial Management L.P. Lowers Stake in Nu Holdings Ltd. $NU

a16z Perennial Management L.P. lessened its stake in Nu Holdings Ltd. (NYSE:NU) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,585,200 shares of the company’s stock after selling 357,300 shares during the quarter. NU makes up approximately 16.6% of a16z Perennial Management L.P.’s portfolio, making the stock its 2nd biggest holding. a16z Perennial Management L.P. owned 0.32% of NU worth $213,829,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Focus Partners Advisor Solutions LLC raised its holdings in shares of NU by 5.5% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 15,974 shares of the company’s stock worth $164,000 after purchasing an additional 838 shares during the period. Perigon Wealth Management LLC raised its holdings in NU by 8.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,641 shares of the company’s stock valued at $150,000 after acquiring an additional 1,136 shares during the period. Dakota Wealth Management raised its holdings in NU by 3.9% during the 2nd quarter. Dakota Wealth Management now owns 31,314 shares of the company’s stock valued at $430,000 after acquiring an additional 1,180 shares during the period. Richards Merrill & Peterson Inc. raised its holdings in NU by 43.6% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 4,115 shares of the company’s stock valued at $42,000 after acquiring an additional 1,250 shares during the period. Finally, Verdence Capital Advisors LLC raised its holdings in NU by 3.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 43,704 shares of the company’s stock valued at $600,000 after acquiring an additional 1,351 shares during the period. Institutional investors own 84.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NU. Bank of America boosted their target price on shares of NU from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, August 25th. UBS Group boosted their target price on shares of NU from $15.60 to $16.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Susquehanna boosted their target price on shares of NU from $15.00 to $17.00 and gave the company a “positive” rating in a report on Wednesday, August 27th. Weiss Ratings restated a “hold (c)” rating on shares of NU in a research report on Wednesday, October 8th. Finally, Citigroup upgraded shares of NU from a “sell” rating to a “buy” rating and boosted their price target for the company from $9.00 to $18.00 in a research report on Wednesday, August 20th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, NU has an average rating of “Moderate Buy” and a consensus target price of $17.10.

NU Stock Up 0.8%

NU opened at $15.97 on Tuesday. Nu Holdings Ltd. has a one year low of $9.01 and a one year high of $16.42. The company has a fifty day moving average price of $15.22 and a 200-day moving average price of $13.41. The firm has a market capitalization of $76.97 billion, a P/E ratio of 34.73, a price-to-earnings-growth ratio of 0.82 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.57 and a quick ratio of 0.57.

NU (NYSE:NU) last announced its earnings results on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. NU had a net margin of 17.90% and a return on equity of 29.91%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the business earned $0.12 earnings per share. Equities research analysts expect that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

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.