1832 Asset Management L.P. Purchases 829,600 Shares of Nu Holdings Ltd. (NYSE:NU)

1832 Asset Management L.P. grew its position in Nu Holdings Ltd. (NYSE:NU) by 10.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,858,200 shares of the company’s stock after buying an additional 829,600 shares during the period. 1832 Asset Management L.P. owned 0.19% of NU worth $114,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors boosted its stake in NU by 15.7% in the first quarter. Capital Research Global Investors now owns 202,618,338 shares of the company’s stock valued at $2,417,237,000 after acquiring an additional 27,420,994 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of NU by 9.7% during the 2nd quarter. Baillie Gifford & Co. now owns 185,963,035 shares of the company’s stock valued at $2,397,064,000 after purchasing an additional 16,512,911 shares during the last quarter. WCM Investment Management LLC lifted its holdings in shares of NU by 1,157.4% during the 1st quarter. WCM Investment Management LLC now owns 99,965,627 shares of the company’s stock valued at $1,192,590,000 after purchasing an additional 92,015,719 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of NU by 32.4% during the 1st quarter. Jennison Associates LLC now owns 87,155,886 shares of the company’s stock valued at $1,039,770,000 after purchasing an additional 21,342,814 shares during the last quarter. Finally, Sands Capital Management LLC lifted its holdings in shares of NU by 92.7% during the 4th quarter. Sands Capital Management LLC now owns 85,220,661 shares of the company’s stock valued at $709,888,000 after purchasing an additional 40,992,413 shares during the last quarter. Hedge funds and other institutional investors own 80.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NU. Susquehanna reiterated a “positive” rating and set a $16.00 price objective on shares of NU in a report on Thursday, August 15th. 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 note on Thursday, September 12th. JPMorgan Chase & Co. upped their price target on shares of NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. UBS Group lowered shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target on the stock. in a research note on Friday, August 2nd. Finally, Jefferies Financial Group upped their price target on shares of NU from $10.80 to $15.20 and gave the company a “buy” rating in a research note on Monday, June 24th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $14.08.

NU Stock Down 1.1 %

NU stock opened at $14.63 on Friday. The firm’s fifty day simple moving average is $13.49 and its 200-day simple moving average is $12.39. The company has a market capitalization of $69.73 billion, a P/E ratio of 56.27, a price-to-earnings-growth ratio of 0.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. Nu Holdings Ltd. has a 12 month low of $6.77 and a 12 month high of $15.16.

NU (NYSE:NU) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. NU had a net margin of 15.11% and a return on equity of 27.00%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the firm posted $0.05 earnings per share. As a group, equities research analysts forecast that Nu Holdings Ltd. will post 0.4 earnings per share for the current year.

About NU

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.