Legal & General Group Plc Sells 6,214,114 Shares of Nu Holdings Ltd. (NYSE:NU)

Legal & General Group Plc lowered its position in Nu Holdings Ltd. (NYSE:NU - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 26,906,385 shares of the company's stock after selling 6,214,114 shares during the quarter. Legal & General Group Plc owned about 0.56% of NU worth $278,750,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. increased its holdings in NU by 7.1% during the 4th quarter. Baillie Gifford & Co. now owns 224,979,342 shares of the company's stock worth $2,330,786,000 after acquiring an additional 14,875,891 shares during the period. Norges Bank bought a new stake in NU during the fourth quarter valued at $447,762,000. Geode Capital Management LLC grew its position in NU by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 33,777,551 shares of the company's stock worth $348,774,000 after buying an additional 1,179,748 shares in the last quarter. Kontiki Capital Management HK Ltd. increased its stake in NU by 14.9% in the 4th quarter. Kontiki Capital Management HK Ltd. now owns 21,110,025 shares of the company's stock worth $218,700,000 after acquiring an additional 2,741,700 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of NU by 5.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 21,044,971 shares of the company's stock valued at $218,026,000 after acquiring an additional 1,067,992 shares in the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NU has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of NU from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $14.00 to $13.00 in a research note on Tuesday. Barclays dropped their price objective on shares of NU from $17.00 to $15.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Finally, UBS Group reduced their target price on NU from $15.50 to $15.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $15.36.

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NU Trading Up 2.9 %

NU stock traded up $0.29 during trading on Friday, hitting $10.54. 55,374,309 shares of the company traded hands, compared to its average volume of 39,772,385. The company has a 50-day moving average of $11.50 and a 200-day moving average of $12.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. Nu Holdings Ltd. has a 1 year low of $9.01 and a 1 year high of $16.15. The firm has a market capitalization of $50.25 billion, a PE ratio of 26.36, a P/E/G ratio of 0.48 and a beta of 1.14.

NU (NYSE:NU - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. NU had a net margin of 17.12% and a return on equity of 30.99%. The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $3.17 billion. Analysts predict that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

About NU

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.