Wellington Management Group LLP Reduces Stock Holdings in Nu Holdings Ltd. (NYSE:NU)

Wellington Management Group LLP lessened its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 53.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,097,492 shares of the company's stock after selling 1,263,384 shares during the period. Wellington Management Group LLP's holdings in NU were worth $14,981,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in NU by 105.9% in the third quarter. State Street Corp now owns 78,865,138 shares of the company's stock valued at $1,076,509,000 after purchasing an additional 40,560,986 shares during the last quarter. Stifel Financial Corp grew its position in shares of NU by 8.5% in the 3rd quarter. Stifel Financial Corp now owns 1,177,480 shares of the company's stock valued at $16,073,000 after buying an additional 92,475 shares during the last quarter. Quantinno Capital Management LP raised its stake in NU by 112.5% during the 3rd quarter. Quantinno Capital Management LP now owns 64,156 shares of the company's stock worth $876,000 after acquiring an additional 33,968 shares in the last quarter. Quarry LP lifted its position in NU by 104.8% in the third quarter. Quarry LP now owns 7,890 shares of the company's stock valued at $108,000 after acquiring an additional 4,037 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in NU by 6.2% in the third quarter. Royal London Asset Management Ltd. now owns 1,305,453 shares of the company's stock valued at $17,819,000 after acquiring an additional 76,009 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

NU Price Performance

Shares of NU traded down $0.05 during mid-day trading on Friday, hitting $11.94. The company's stock had a trading volume of 21,831,981 shares, compared to its average volume of 33,341,652. The firm has a 50-day simple moving average of $13.90 and a 200 day simple moving average of $13.37. Nu Holdings Ltd. has a 1-year low of $8.06 and a 1-year high of $16.15. The firm has a market capitalization of $56.91 billion, a P/E ratio of 33.17, a P/E/G ratio of 0.61 and a beta of 0.99. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Itau BBA Securities downgraded NU from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 14th. Susquehanna raised their target price on shares of NU from $16.00 to $18.00 and gave the stock a "positive" rating in a research report on Thursday, November 14th. Bank of America upped their price target on shares of NU from $12.80 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. The Goldman Sachs Group lifted their price objective on shares of NU from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, KeyCorp raised their price target on NU from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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.