Jennison Associates LLC Acquires 17,809,644 Shares of Nu Holdings Ltd. $NU

Key Points

• Jennison Associates LLC boosted its stake in Nu Holdings by 82.6% in Q4, acquiring 17,809,644 shares to own 39,370,791 shares (about 0.82% of NU) valued at roughly $659.1 million.
• Analyst sentiment is broadly positive with 12 Buy and 2 Hold ratings, a consensus price target of $18.46, and recent upgrades/price-target increases from firms including UBS and Susquehanna.
• Insider activity: CEO Cristina Junqueira sold 300,000 shares on March 23 for about $4.44 million, an 11.48% reduction in her position; insiders now own about 1.20% of the company.

Jennison Associates LLC increased its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 82.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,370,791 shares of the company's stock after acquiring an additional 17,809,644 shares during the period. Jennison Associates LLC owned about 0.82% of NU worth $659,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. GC Wealth Management RIA LLC lifted its stake in shares of NU by 3.4% during the 4th quarter. GC Wealth Management RIA LLC now owns 115,830 shares of the company's stock worth $1,939,000 after acquiring an additional 3,845 shares during the last quarter. Pekin Hardy Strauss Inc. bought a new stake in shares of NU during the 4th quarter worth approximately $648,000. Interchange Capital Partners LLC lifted its stake in shares of NU by 11.5% during the 4th quarter. Interchange Capital Partners LLC now owns 45,409 shares of the company's stock worth $760,000 after acquiring an additional 4,683 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of NU by 5.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,954,136 shares of the company's stock worth $133,152,000 after acquiring an additional 433,033 shares during the last quarter. Finally, Aprio Wealth Management LLC bought a new stake in NU during the 4th quarter valued at $192,000. 84.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NU has been the subject of several research reports. UBS Group upgraded NU from a "neutral" rating to a "buy" rating and upped their target price for the stock from $17.20 to $17.60 in a report on Thursday, March 19th. Zacks Research cut NU from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 24th. Weiss Ratings upgraded NU from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 18th. Susquehanna upped their target price on NU from $19.00 to $22.00 and gave the stock a "positive" rating in a report on Tuesday, January 27th. Finally, Bank of America reiterated a "neutral" rating on shares of NU in a report on Monday, March 9th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.46.

NU Trading Up 1.5%

NU opened at $14.25 on Thursday. The firm has a market cap of $69.17 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 0.59 and a beta of 1.10. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. Nu Holdings Ltd. has a 12 month low of $11.71 and a 12 month high of $18.98. The stock has a fifty day moving average price of $14.77 and a 200-day moving average price of $16.00.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.55 billion. NU had a return on equity of 30.68% and a net margin of 18.19%. As a group, equities research analysts anticipate that Nu Holdings Ltd. will post 0.84 earnings per share for the current fiscal year.

Insider Activity at NU

In other news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the business's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $14.81, for a total value of $4,443,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,312,338 shares of the company's stock, valued at approximately $34,245,725.78. The trade was a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company's stock.

NU Company 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.

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