Mirae Asset Global Investments Co. Ltd. Has $2.40 Million Position in Nu Holdings Ltd. $NU

Key Points

• Mirae Asset Global Investments reduced its stake in Nu Holdings Ltd. by 71.8% in Q2, now holding shares valued at $2.40 million.
• Several institutional investors have increased their positions in Nu Holdings, with Baillie Gifford & Co. owning over $2.7 billion worth of shares after a significant purchase.
• Analysts rate Nu Holdings with an average of "Moderate Buy" and set a price target of $17.06, reflecting interest in the company's future earnings potential.

Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 71.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 175,013 shares of the company's stock after selling 444,916 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in NU were worth $2,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NU. Baillie Gifford & Co. lifted its position in shares of NU by 17.9% during the 1st quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company's stock worth $2,715,243,000 after buying an additional 40,181,132 shares during the last quarter. Nuveen LLC bought a new stake in shares of NU during the 1st quarter worth $221,317,000. Orbis Allan Gray Ltd acquired a new stake in NU in the first quarter valued at approximately $150,763,000. Kontiki Capital Management HK Ltd. boosted its position in NU by 54.3% in the first quarter. Kontiki Capital Management HK Ltd. now owns 32,575,725 shares of the company's stock valued at $333,575,000 after buying an additional 11,465,700 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in NU by 24.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company's stock valued at $557,422,000 after buying an additional 10,785,851 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NU. Weiss Ratings restated a "hold (c)" rating on shares of NU in a research report on Saturday, September 27th. Bank of America boosted their price target on NU from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, August 25th. UBS Group boosted their price target on NU from $14.30 to $15.60 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. boosted their price target on NU from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Finally, Santander upgraded NU to a "neutral" rating in a report on Monday, August 25th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, NU currently has an average rating of "Moderate Buy" and an average price target of $17.06.

NU Stock Down 1.7%

Shares of NYSE:NU opened at $15.13 on Wednesday. The company has a market capitalization of $72.88 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 0.80 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.57 and a quick ratio of 0.57. The business's 50-day moving average is $14.39 and its 200-day moving average is $12.93. Nu Holdings Ltd. has a 1 year low of $9.01 and a 1 year high of $16.42.

NU (NYSE:NU - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the previous year, the business earned $0.12 EPS. Equities research analysts predict that Nu Holdings Ltd. will post 0.58 earnings per share for the current year.

About NU

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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