Mitsubishi UFJ Trust & Banking Corp Increases Stake in Nu Holdings Ltd. $NU

Mitsubishi UFJ Trust & Banking Corp raised its stake in Nu Holdings Ltd. (NYSE:NU) by 28.2% in the third quarter, HoldingsChannel reports. The fund owned 7,521,103 shares of the company’s stock after purchasing an additional 1,652,321 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in NU were worth $120,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas increased its holdings in shares of NU by 18.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 482,003 shares of the company’s stock valued at $7,717,000 after purchasing an additional 75,164 shares in the last quarter. Myriad Asset Management US LP acquired a new stake in NU during the third quarter valued at $2,053,000. Spear Holdings RSC Ltd increased its holdings in NU by 63.5% in the third quarter. Spear Holdings RSC Ltd now owns 5,347,000 shares of the company’s stock valued at $85,605,000 after buying an additional 2,077,414 shares in the last quarter. Proem Advisors LLC raised its position in shares of NU by 0.7% in the third quarter. Proem Advisors LLC now owns 425,614 shares of the company’s stock worth $6,814,000 after acquiring an additional 3,000 shares during the period. Finally, Strs Ohio raised its position in shares of NU by 1.2% in the third quarter. Strs Ohio now owns 788,530 shares of the company’s stock worth $12,624,000 after acquiring an additional 9,389 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.

Analysts Set New Price Targets

NU has been the topic of a number of analyst reports. KeyCorp raised their target price on NU from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. JPMorgan Chase & Co. raised their price objective on NU from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Zacks Research upgraded NU from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 target price on shares of NU in a research report on Thursday, December 18th. Finally, Susquehanna lifted their price target on shares of NU from $17.00 to $19.00 and gave the company a “positive” rating in a research note on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.04.

NU Price Performance

NYSE:NU opened at $18.03 on Friday. The stock has a 50 day moving average of $16.81 and a two-hundred day moving average of $15.34. Nu Holdings Ltd. has a 12 month low of $9.01 and a 12 month high of $18.37. The firm has a market cap of $86.89 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 0.59 and a beta of 1.08. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29.

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

NU 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.