Lord Abbett & CO. LLC Trims Position in Nu Holdings Ltd. (NYSE:NU)

Lord Abbett & CO. LLC lessened its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 74.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 481,567 shares of the company's stock after selling 1,424,330 shares during the period. Lord Abbett & CO. LLC's holdings in NU were worth $6,573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NU. Raymond James & Associates increased its position in NU by 19.9% during the 2nd quarter. Raymond James & Associates now owns 462,694 shares of the company's stock valued at $5,964,000 after buying an additional 76,880 shares in the last quarter. Shelton Wealth Management LLC purchased a new position in shares of NU in the 2nd quarter worth about $1,130,000. Fortis Capital Management LLC boosted its stake in NU by 6.6% in the 2nd quarter. Fortis Capital Management LLC now owns 17,330 shares of the company's stock worth $223,000 after purchasing an additional 1,072 shares in the last quarter. NewSquare Capital LLC purchased a new stake in NU during the 2nd quarter valued at about $4,804,000. Finally, Private Advisory Group LLC purchased a new stake in NU during the 2nd quarter valued at about $828,000. 84.02% of the stock is owned by hedge funds and other institutional investors.

NU Stock Performance

NU traded down $0.04 during trading on Tuesday, hitting $11.70. The company's stock had a trading volume of 52,433,810 shares, compared to its average volume of 33,415,270. Nu Holdings Ltd. has a one year low of $8.06 and a one year high of $16.15. The business's 50 day simple moving average is $13.84 and its 200-day simple moving average is $13.38. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20. The firm has a market cap of $55.76 billion, a PE ratio of 32.50, a P/E/G ratio of 0.59 and a beta of 0.99.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of NU from $14.50 to $15.00 and gave the company a "neutral" rating in a report on Monday, August 19th. Citigroup downgraded NU from a "neutral" rating to a "sell" rating and cut their target price for the company from $14.60 to $11.00 in a research note on Monday, December 2nd. KeyCorp boosted their price target on NU from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. The Goldman Sachs Group increased their price objective on NU from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, Bank of America boosted their target price on NU from $12.80 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.63.

NU Profile

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.