Sands Capital Management LLC Sells 3,942,266 Shares of Nu Holdings Ltd. $NU

Sands Capital Management LLC lessened its holdings in Nu Holdings Ltd. (NYSE:NU) by 7.2% during the third quarter, HoldingsChannel reports. The firm owned 50,562,162 shares of the company’s stock after selling 3,942,266 shares during the quarter. NU accounts for 2.2% of Sands Capital Management LLC’s holdings, making the stock its 19th largest position. Sands Capital Management LLC’s holdings in NU were worth $809,500,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NU. Atlantic Union Bankshares Corp acquired a new stake in NU in the second quarter valued at about $38,000. Savant Capital LLC raised its stake in NU by 259.6% during the second quarter. Savant Capital LLC now owns 82,015 shares of the company’s stock worth $1,125,000 after acquiring an additional 59,207 shares in the last quarter. Metis Global Partners LLC raised its stake in NU by 13.4% during the second quarter. Metis Global Partners LLC now owns 23,057 shares of the company’s stock worth $316,000 after acquiring an additional 2,724 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of NU by 6.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,198,384 shares of the company’s stock worth $43,882,000 after acquiring an additional 197,700 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of NU by 150.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 203,635 shares of the company’s stock worth $2,794,000 after acquiring an additional 122,273 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of NU from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Bank of America reissued a “neutral” rating on shares of NU in a research note on Monday. Weiss Ratings upgraded shares of NU from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. UBS Group decreased their target price on shares of NU from $18.40 to $17.20 and set a “neutral” rating on the stock in a research note on Wednesday, March 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 price target on shares of NU in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.22.

NU Stock Performance

NYSE:NU opened at $14.87 on Wednesday. The stock has a market cap of $71.63 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 0.47 and a beta of 1.11. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average is $16.88 and its 200-day moving average is $16.24. Nu Holdings Ltd. has a 1-year low of $9.01 and a 1-year high of $18.98.

NU (NYSE:NU) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. NU had a net margin of 18.19% and a return on equity of 30.68%. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.55 billion. Equities research analysts anticipate that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

NU Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.