Jennison Associates LLC Sells 60,271,013 Shares of Nu Holdings Ltd. (NYSE:NU)

Jennison Associates LLC reduced its stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 62.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,483,933 shares of the company's stock after selling 60,271,013 shares during the quarter. Jennison Associates LLC owned 0.77% of NU worth $377,974,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NU. Massmutual Trust Co. FSB ADV boosted its stake in shares of NU by 287.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company's stock valued at $26,000 after purchasing an additional 1,422 shares during the period. Piscataqua Savings Bank raised its holdings in NU by 500.0% during the 4th quarter. Piscataqua Savings Bank now owns 3,000 shares of the company's stock valued at $31,000 after buying an additional 2,500 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new stake in NU during the 3rd quarter valued at $44,000. Toth Financial Advisory Corp purchased a new position in shares of NU in the third quarter valued at about $55,000. Finally, GAMMA Investing LLC raised its stake in shares of NU by 81.9% during the third quarter. GAMMA Investing LLC now owns 4,119 shares of the company's stock valued at $56,000 after acquiring an additional 1,855 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company's stock.

NU Stock Performance

Shares of NU stock opened at $13.24 on Monday. The business has a fifty day simple moving average of $11.64 and a two-hundred day simple moving average of $13.12. The firm has a market capitalization of $63.08 billion, a P/E ratio of 36.76, a P/E/G 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. Nu Holdings Ltd. has a 12 month low of $8.58 and a 12 month high of $16.15.

Analysts Set New Price Targets

Several analysts recently issued reports on NU shares. Citigroup cut NU from a "neutral" rating to a "sell" rating and cut their target price for the stock from $14.60 to $11.00 in a research note on Monday, December 2nd. Susquehanna lifted their price objective on NU from $16.00 to $18.00 and gave the stock a "positive" rating in a research report on Thursday, November 14th. Itau BBA Securities downgraded NU from an "outperform" rating to a "market perform" rating in a report 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 report on Thursday, November 14th. Finally, KeyCorp upped their price objective on shares of NU from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.

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