Credit Agricole S A Acquires 598,800 Shares of Nu Holdings Ltd. $NU

Key Points

• Credit Agricole S A increased its stake in Nu Holdings Ltd. by 58.9% in Q1, acquiring 598,800 shares, bringing its total to 1,615,000 shares valued at approximately $16.53 million.
• Several hedge funds, including Banco Bilbao Vizcaya Argentaria S.A. and Hsbc Holdings PLC, also significantly increased their holdings in Nu Holdings during the same quarter, indicating strong institutional interest.
• Nu Holdings reported earnings of $0.14 per share, surpassing estimates, with revenue of $3.70 billion for the quarter, despite a slight miss on projections of $3.78 billion.

Credit Agricole S A lifted its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 58.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,615,000 shares of the company's stock after buying an additional 598,800 shares during the period. Credit Agricole S A's holdings in NU were worth $16,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. boosted its position in NU by 286,000.0% in the first quarter. NBC Securities Inc. now owns 2,861 shares of the company's stock worth $29,000 after purchasing an additional 2,860 shares during the last quarter. TFC Financial Management Inc. boosted its position in NU by 74.1% in the first quarter. TFC Financial Management Inc. now owns 3,114 shares of the company's stock worth $32,000 after purchasing an additional 1,325 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in NU by 51.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock worth $39,000 after purchasing an additional 1,295 shares during the last quarter. Richards Merrill & Peterson Inc. boosted its position in 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 purchasing an additional 1,250 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in NU by 128.7% in the first quarter. Farther Finance Advisors LLC now owns 4,250 shares of the company's stock worth $44,000 after purchasing an additional 2,392 shares during the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NU has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on NU from $14.50 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. Morgan Stanley reissued an "overweight" rating on shares of NU in a research report on Friday, June 13th. Citigroup raised NU from a "sell" rating to a "buy" rating and raised their target price for the stock from $9.00 to $18.00 in a research report on Wednesday. Susquehanna raised their price objective on NU from $14.00 to $15.00 and gave the stock a "positive" rating in a research note on Wednesday, May 14th. Finally, Itau BBA Securities raised NU from a "market perform" rating to an "outperform" rating and set a $18.00 price objective on the stock in a research note on Monday, August 18th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $16.56.

NU Stock Performance

Shares of NYSE NU traded up $0.2650 during trading on Friday, hitting $13.9350. The company had a trading volume of 57,567,197 shares, compared to its average volume of 50,015,344. The stock has a 50 day simple moving average of $12.91 and a 200 day simple moving average of $12.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.54 and a current ratio of 0.57. Nu Holdings Ltd. has a 12 month low of $9.01 and a 12 month high of $16.15. The firm has a market capitalization of $67.15 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 0.80 and a beta of 1.05.

NU (NYSE:NU - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same quarter last year, the company earned $0.12 EPS. As a group, analysts anticipate 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.