Nordea Investment Management AB Takes $34.31 Million Position in Nu Holdings Ltd. $NU

Nordea Investment Management AB bought a new position in shares of Nu Holdings Ltd. (NYSE:NU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,184,031 shares of the company’s stock, valued at approximately $34,311,000.

Other hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. purchased a new stake in shares of NU during the 2nd quarter worth approximately $27,000. ORG Partners LLC lifted its position in NU by 474.1% in the second quarter. ORG Partners LLC now owns 2,325 shares of the company’s stock valued at $32,000 after acquiring an additional 1,920 shares during the last quarter. Quaker Wealth Management LLC boosted its stake in NU by 212.7% in the second quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $32,000 after acquiring an additional 4,341 shares in the last quarter. Allworth Financial LP grew its holdings in shares of NU by 166.6% during the second quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock worth $35,000 after purchasing an additional 1,601 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of NU during the second quarter worth about $36,000. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

NU Trading Up 0.5%

NYSE:NU opened at $16.65 on Thursday. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $18.37. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $16.64 and its 200-day simple moving average is $15.17. The firm has a market cap of $80.21 billion, a P/E ratio of 32.64, a PEG ratio of 0.55 and a beta of 1.08.

NU (NYSE:NU) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.96 billion. NU had a return on equity of 30.12% and a net margin of 17.97%. Equities analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

NU has been the subject of several research reports. KeyCorp boosted their target price on NU from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, November 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $21.00 price objective on shares of NU in a report on Thursday, December 18th. JPMorgan Chase & Co. raised their target price on shares of NU from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. UBS Group lifted their target price on shares of NU from $16.00 to $18.40 and gave the company a “neutral” rating in a report on Thursday, December 4th. Finally, Santander upgraded shares of NU from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, NU currently has an average rating of “Moderate Buy” and a consensus target price of $18.04.

NU Company Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.