ASK Capital Management LLC Invests $330,000 in Nu Holdings Ltd. (NYSE:NU)

Key Points

• ASK Capital Management LLC has acquired 32,238 shares of Nu Holdings Ltd. (NYSE:NU) valued at approximately $330,000, making it the firm's 4th largest holding.
• Several institutional investors, including Baillie Gifford & Co. and Northern Trust Corp, have also increased their stakes in NU, indicating growing interest in the company.
• Analysts have generally rated NU positively, with a consensus rating of "Moderate Buy" and an average target price of $15.50, despite a slight earnings miss reported in the latest quarter.

ASK Capital Management LLC purchased a new stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,238 shares of the company's stock, valued at approximately $330,000. NU comprises about 0.1% of ASK Capital Management LLC's holdings, making the stock its 4th biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBC Securities Inc. lifted its holdings in NU by 286,000.0% in the first quarter. NBC Securities Inc. now owns 2,861 shares of the company's stock valued at $29,000 after acquiring an additional 2,860 shares during the period. TFC Financial Management Inc. boosted its holdings in NU by 74.1% during the first quarter. TFC Financial Management Inc. now owns 3,114 shares of the company's stock worth $32,000 after buying an additional 1,325 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in NU by 51.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock valued at $39,000 after buying an additional 1,295 shares during the period. Richards Merrill & Peterson Inc. raised its position in shares of NU by 43.6% in the first quarter. Richards Merrill & Peterson Inc. now owns 4,115 shares of the company's stock worth $42,000 after acquiring an additional 1,250 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of NU by 128.7% during the 1st quarter. Farther Finance Advisors LLC now owns 4,250 shares of the company's stock worth $44,000 after acquiring an additional 2,392 shares in the last quarter. Hedge funds and other institutional investors own 84.02% of the company's stock.

Wall Street Analysts Forecast Growth

NU has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on NU from $14.50 to $16.00 and gave the stock an "overweight" rating in a report on Monday, June 30th. Barclays increased their price objective on shares of NU from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Morgan Stanley reissued an "overweight" rating on shares of NU in a research note on Friday, June 13th. Finally, Susquehanna raised their price target on shares of NU from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $15.50.

NU Price Performance

Shares of NYSE:NU traded up $0.06 during midday trading on Wednesday, hitting $12.21. The company had a trading volume of 33,101,512 shares, compared to its average volume of 62,037,516. The business's 50-day simple moving average is $12.72 and its 200-day simple moving average is $12.15. The stock has a market cap of $58.81 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 0.69 and a beta of 1.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.54 and a quick ratio of 0.54. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $16.15.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.09 billion. NU had a return on equity of 30.77% and a net margin of 17.88%. During the same quarter in the previous year, the business posted $0.09 earnings per share. On average, research analysts predict that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

NU Company 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.