Coronation Fund Managers Ltd. Acquires 6,519,631 Shares of Nu Holdings Ltd. (NYSE:NU)

Key Points

• Coronation Fund Managers Ltd. increased its stake in Nu Holdings Ltd. by 69.8%, acquiring an additional 6,519,631 shares, bringing its total holdings to approximately 15,856,452 shares.
• Shares of NU currently account for about 8.7% of Coronation's investment portfolio, making it the fund's second largest position.
• Analysts have a consensus rating of "Moderate Buy" for NU, with a target price of $15.50, while the stock has recently traded at $12.29.

Coronation Fund Managers Ltd. boosted its holdings in Nu Holdings Ltd. (NYSE:NU - Free Report) by 69.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,856,452 shares of the company's stock after acquiring an additional 6,519,631 shares during the period. NU accounts for about 8.7% of Coronation Fund Managers Ltd.'s investment portfolio, making the stock its 2nd largest position. Coronation Fund Managers Ltd. owned about 0.33% of NU worth $162,370,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NU. Advisory Services Network LLC lifted its holdings in NU by 19.7% in the 4th quarter. Advisory Services Network LLC now owns 65,479 shares of the company's stock valued at $678,000 after purchasing an additional 10,782 shares in the last quarter. Raymond James Financial Inc. purchased a new position in NU in the 4th quarter valued at about $3,499,000. Treasurer of the State of North Carolina lifted its holdings in NU by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 1,399,497 shares of the company's stock valued at $14,499,000 after purchasing an additional 8,780 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in NU by 17.5% in the 4th quarter. Sterling Capital Management LLC now owns 525,123 shares of the company's stock valued at $5,440,000 after purchasing an additional 78,337 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in NU by 241.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 260,419 shares of the company's stock valued at $2,698,000 after purchasing an additional 184,233 shares in the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

NU Trading Down 1.0%

Shares of NU stock opened at $12.29 on Friday. The firm has a market cap of $59.22 billion, a P/E ratio of 28.58, a PEG ratio of 0.70 and a beta of 1.05. Nu Holdings Ltd. has a 1-year low of $9.01 and a 1-year high of $16.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.54 and a quick ratio of 0.54. The firm's 50-day simple moving average is $12.74 and its 200-day simple moving average is $12.16.

NU (NYSE:NU - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.09 billion. NU had a net margin of 17.88% and a return on equity of 30.77%. During the same period last year, the firm earned $0.09 earnings per share. As a group, equities analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current year.

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.

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