Sumitomo Mitsui DS Asset Management Company Ltd Purchases 119,972 Shares of Nu Holdings Ltd. (NYSE:NU)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Nu Holdings Ltd. (NYSE:NU) by 1,074.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,136 shares of the company’s stock after buying an additional 119,972 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in NU were worth $1,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its stake in shares of NU by 47.6% during the 1st quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock worth $2,021,540,000 after acquiring an additional 54,681,625 shares during the period. Capital Research Global Investors boosted its position in NU by 15.7% during the first quarter. Capital Research Global Investors now owns 202,618,338 shares of the company’s stock worth $2,417,237,000 after purchasing an additional 27,420,994 shares during the period. Jennison Associates LLC increased its holdings in shares of NU by 32.4% in the first 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. American Century Companies Inc. raised its position in shares of NU by 73.1% in the second quarter. American Century Companies Inc. now owns 17,237,693 shares of the company’s stock valued at $222,194,000 after purchasing an additional 7,279,458 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of NU by 216.4% during the 1st quarter. 1832 Asset Management L.P. now owns 8,028,600 shares of the company’s stock worth $95,781,000 after buying an additional 5,490,800 shares during the last quarter. 80.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NU. The Goldman Sachs Group upped their price target on shares of NU from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Susquehanna reaffirmed a “positive” rating and issued a $16.00 target price on shares of NU in a research report on Thursday, August 15th. UBS Group cut NU from a “buy” rating to a “neutral” rating and set a $13.50 price target for the company. in a report on Friday, August 2nd. Bank of America upped their price objective on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. lifted their target price on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.21.

NU Stock Performance

NU opened at $14.55 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.49. Nu Holdings Ltd. has a 52-week low of $7.74 and a 52-week high of $15.16. The firm has a market cap of $69.32 billion, a P/E ratio of 46.92, a price-to-earnings-growth ratio of 0.67 and a beta of 1.15. The business’s fifty day moving average is $14.16 and its 200-day moving average is $12.71.

NU (NYSE:NU) last announced its quarterly earnings data 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. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.90 billion. NU had a net margin of 15.11% and a return on equity of 27.00%. During the same period in the prior year, the company posted $0.05 earnings per share. Sell-side analysts expect that Nu Holdings Ltd. will post 0.41 EPS for the current fiscal year.

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.