Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 1,888 Shares of Nu Holdings Ltd. (NYSE:NU)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in Nu Holdings Ltd. (NYSE:NU) by 8.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,335 shares of the company’s stock after selling 1,888 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in NU were worth $200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC bought a new stake in NU in the third quarter worth about $98,704,000. Thrivent Financial for Lutherans raised its holdings in shares of NU by 23.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock worth $3,517,000 after purchasing an additional 48,445 shares during the period. Adero Partners LLC grew its holdings in NU by 5.7% during the third quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock valued at $65,784,000 after purchasing an additional 259,324 shares during the period. Summit Partners Public Asset Management LLC increased its position in NU by 20.0% in the third quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company’s stock worth $4,095,000 after buying an additional 50,000 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in shares of 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 buying an additional 76,009 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Price Performance

NYSE:NU opened at $13.44 on Friday. Nu Holdings Ltd. has a 52-week low of $8.58 and a 52-week high of $16.15. The stock has a fifty day moving average of $11.66 and a 200 day moving average of $13.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market capitalization of $64.03 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 0.43 and a beta of 1.05.

Analysts Set New Price Targets

Several research analysts have recently weighed in 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 lifted their target price on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Citigroup cut shares of NU from a “neutral” rating to a “sell” rating and dropped their price target for the company from $14.60 to $11.00 in a research note on Monday, December 2nd. KeyCorp lifted their price objective on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group increased their target price on NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.63.

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.