71,000 Shares in Nu Holdings Ltd. $NU Acquired by Pilgrim Partners Asia Pte Ltd

Pilgrim Partners Asia Pte Ltd purchased a new stake in Nu Holdings Ltd. (NYSE:NU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 71,000 shares of the company’s stock, valued at approximately $1,137,000.

Several other hedge funds have also recently made changes to their positions in the business. Rathbones Group PLC raised its stake in NU by 119.0% during the 2nd quarter. Rathbones Group PLC now owns 147,590 shares of the company’s stock worth $2,025,000 after buying an additional 80,200 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of NU in the second quarter valued at about $39,848,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of NU by 14.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,695,159 shares of the company’s stock worth $219,259,000 after buying an additional 1,703,787 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in NU by 39.9% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 95,879 shares of the company’s stock valued at $1,315,000 after purchasing an additional 27,335 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in NU by 87.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 64,052 shares of the company’s stock valued at $879,000 after purchasing an additional 29,824 shares during the period. 84.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NU has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of NU in a research note on Wednesday, October 8th. UBS Group raised their price objective on shares of NU from $16.00 to $18.40 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Susquehanna reaffirmed a “positive” rating on shares of NU in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of NU from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Finally, KeyCorp increased their price objective on NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.04.

NU Trading Up 0.7%

NYSE:NU opened at $18.17 on Tuesday. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $18.37. The company’s 50 day moving average price is $16.86 and its 200-day moving average price is $15.40. The stock has a market cap of $87.56 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 0.59 and a beta of 1.08. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29.

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

About NU

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.