Nu Holdings Ltd. (NYSE:NU) Sees Significant Decrease in Short Interest

Nu Holdings Ltd. (NYSE:NU - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 123,330,000 shares, a drop of 27.1% from the March 15th total of 169,240,000 shares. Approximately 3.9% of the company's stock are sold short. Based on an average daily trading volume, of 54,280,000 shares, the short-interest ratio is presently 2.3 days.

Hedge Funds Weigh In On NU

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its holdings in NU by 7.1% in 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 acquired a new position in shares of NU during the fourth quarter valued at $447,762,000. Geode Capital Management LLC boosted its stake in shares of NU by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 33,777,551 shares of the company's stock valued at $348,774,000 after purchasing an additional 1,179,748 shares during the last quarter. Northern Trust Corp boosted its stake in NU by 45.1% in the fourth quarter. Northern Trust Corp now owns 25,496,091 shares of the company's stock valued at $264,140,000 after acquiring an additional 7,930,598 shares during the last quarter. Finally, Ribbit Management Company LLC grew its stake in shares of NU by 22.1% during the fourth quarter. Ribbit Management Company LLC now owns 25,243,753 shares of the company's stock worth $261,525,000 after purchasing an additional 4,575,000 shares during the period. Institutional investors and hedge funds own 84.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NU shares. JPMorgan Chase & Co. raised NU from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $14.00 to $13.00 in a research note on Tuesday, April 8th. UBS Group decreased their price target on shares of NU from $15.50 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Finally, Barclays dropped their price objective on shares of NU from $17.00 to $15.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. One research 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.36.

NU Stock Up 3.1 %

Shares of NU stock traded up $0.35 during midday trading on Wednesday, reaching $11.54. 16,705,487 shares of the company's stock traded hands, compared to its average volume of 40,328,174. 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 has a 52 week low of $9.01 and a 52 week high of $16.15. The company's 50 day simple moving average is $11.10 and its 200 day simple moving average is $12.27. The company has a market cap of $55.00 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 0.48 and a beta of 1.14.

NU (NYSE:NU - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.12 earnings per share for the quarter, hitting analysts' consensus estimates of $0.12. The company had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.17 billion. NU had a return on equity of 30.99% and a net margin of 17.12%. Equities analysts expect that NU will post 0.58 earnings per share for the current fiscal year.

NU Company 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.