Jennison Associates LLC Sells 60,271,013 Shares of Nu Holdings Ltd. (NYSE:NU)

Jennison Associates LLC lessened its stake in Nu Holdings Ltd. (NYSE:NU) by 62.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,483,933 shares of the company’s stock after selling 60,271,013 shares during the quarter. Jennison Associates LLC’s holdings in NU were worth $377,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NU. Deepwater Asset Management LLC lifted its stake in shares of NU by 50.1% in the fourth quarter. Deepwater Asset Management LLC now owns 1,504,169 shares of the company’s stock worth $15,583,000 after buying an additional 502,295 shares in the last quarter. GFS Advisors LLC lifted its position in NU by 128.5% in the 4th quarter. GFS Advisors LLC now owns 1,172,504 shares of the company’s stock valued at $12,147,000 after acquiring an additional 659,289 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its stake in NU by 19.6% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 355,332 shares of the company’s stock valued at $3,680,000 after purchasing an additional 58,183 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of NU in the 4th quarter worth $1,139,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of NU by 5.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 21,044,971 shares of the company’s stock worth $218,026,000 after purchasing an additional 1,067,992 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

NU Price Performance

Shares of NU stock opened at $13.24 on Monday. The stock’s fifty day moving average is $11.64 and its 200 day moving average is $13.12. Nu Holdings Ltd. has a one year low of $8.58 and a one year high of $16.15. 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 stock has a market cap of $63.08 billion, a P/E ratio of 36.76, a P/E/G ratio of 0.47 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NU shares. Susquehanna increased their price objective on NU from $16.00 to $18.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Itau BBA Securities downgraded shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Citigroup cut shares of NU from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $14.60 to $11.00 in a report on Monday, December 2nd. KeyCorp raised their target price on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group boosted their target price 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.63.

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.