1832 Asset Management L.P. Boosts Stake in Nu Holdings Ltd. (NYSE:NU)

1832 Asset Management L.P. lifted its stake in Nu Holdings Ltd. (NYSE:NU) by 216.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,028,600 shares of the company’s stock after purchasing an additional 5,490,800 shares during the period. 1832 Asset Management L.P. owned 0.17% of NU worth $95,781,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. WCM Investment Management LLC increased its stake in NU by 1,157.4% in the 1st quarter. WCM Investment Management LLC now owns 99,965,627 shares of the company’s stock worth $1,192,590,000 after buying an additional 92,015,719 shares in the last quarter. Baillie Gifford & Co. increased its stake in NU by 47.6% in the 1st quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock worth $2,021,540,000 after buying an additional 54,681,625 shares in the last quarter. Sands Capital Management LLC increased its stake in NU by 92.7% in the 4th quarter. Sands Capital Management LLC now owns 85,220,661 shares of the company’s stock worth $709,888,000 after buying an additional 40,992,413 shares in the last quarter. Jennison Associates LLC increased its stake in NU by 160.9% in the 4th quarter. Jennison Associates LLC now owns 65,813,072 shares of the company’s stock worth $548,223,000 after buying an additional 40,584,189 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in NU by 20.7% in the 4th quarter. Capital Research Global Investors now owns 175,197,344 shares of the company’s stock worth $1,459,403,000 after buying an additional 30,002,685 shares in the last quarter. 80.90% of the stock is currently owned by hedge funds and other institutional investors.

NU Trading Up 0.3 %

Shares of NYSE:NU traded up $0.04 during trading on Friday, reaching $12.41. The company’s stock had a trading volume of 23,542,672 shares, compared to its average volume of 26,917,114. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.21. Nu Holdings Ltd. has a 12 month low of $6.61 and a 12 month high of $13.64. The firm’s 50 day simple moving average is $12.33 and its two-hundred day simple moving average is $11.32. The stock has a market capitalization of $59.15 billion, a PE ratio of 47.73, a price-to-earnings-growth ratio of 0.58 and a beta of 1.14.

NU (NYSE:NU) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. NU had a net margin of 13.86% and a return on equity of 22.94%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.58 billion. On average, research analysts predict that Nu Holdings Ltd. will post 0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NU has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price target on NU from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. downgraded shares of NU from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $14.50 in a report on Monday, July 22nd. Jefferies Financial Group increased their price objective on shares of NU from $10.80 to $15.20 and gave the company a “buy” rating in a report on Monday, June 24th. Barclays started coverage on shares of NU in a report on Wednesday, June 26th. They set an “overweight” rating and a $15.00 price objective for the company. Finally, KeyCorp increased their price objective on shares of NU from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, NU currently has an average rating of “Moderate Buy” and an average target price of $12.98.

NU Company 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.