Itau Unibanco Holding S.A. Takes Position in Nu Holdings Ltd. $NU

Itau Unibanco Holding S.A. purchased a new position in shares of Nu Holdings Ltd. (NYSE:NU) during the second quarter, HoldingsChannel reports. The fund purchased 2,904,400 shares of the company’s stock, valued at approximately $39,848,000. NU comprises 1.4% of Itau Unibanco Holding S.A.’s investment portfolio, making the stock its 22nd biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Armstrong Advisory Group Inc. bought a new stake in NU in the 2nd quarter valued at about $27,000. Capital Analysts LLC bought a new stake in shares of NU in the first quarter valued at approximately $31,000. ORG Partners LLC grew its position in NU by 474.1% during the second quarter. ORG Partners LLC now owns 2,325 shares of the company’s stock worth $32,000 after buying an additional 1,920 shares in the last quarter. Quaker Wealth Management LLC increased its stake in NU by 212.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock worth $32,000 after acquiring an additional 4,341 shares during the period. Finally, Banque Transatlantique SA acquired a new position in NU in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Trading Up 1.6%

Shares of NU stock opened at $15.83 on Friday. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $16.55. The stock’s fifty day simple moving average is $15.68 and its 200 day simple moving average is $13.88. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $76.29 billion, a P/E ratio of 31.05, a P/E/G ratio of 0.81 and a beta of 1.08.

NU (NYSE:NU) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. NU had a return on equity of 31.82% and a net margin of 17.97%.The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $3.96 billion. As a group, sell-side analysts predict that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NU shares. Susquehanna increased their target price on NU from $17.00 to $19.00 and gave the stock a “positive” rating in a report on Friday. JPMorgan Chase & Co. increased their price objective on shares of NU from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of NU in a report on Wednesday, October 8th. KeyCorp upped their price target on shares of NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group increased their price target on shares of NU from $15.60 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.33.

NU 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.