Raymond James Financial Inc. Has $5.42 Million Position in Nu Holdings Ltd. $NU

Key Points

• Raymond James Financial Inc. increased its stake in Nu Holdings Ltd. by 56.6% during Q1, now owning 529,013 shares valued at approximately $5.4 million.
• Several hedge funds, including Baillie Gifford & Co. and Kontiki Capital Management, also increased their holdings in NU, contributing to an overall institutional ownership of 84.02%.
• Analysts have positive forecasts for NU, with UBS Group raising the price target from $14.30 to $15.60, reflecting a consensus rating of "Moderate Buy" and an average target price of $16.96.

Raymond James Financial Inc. grew its position in Nu Holdings Ltd. (NYSE:NU - Free Report) by 56.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 529,013 shares of the company's stock after acquiring an additional 191,265 shares during the period. Raymond James Financial Inc.'s holdings in NU were worth $5,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of NU by 2,069.9% during the 1st quarter. GAMMA Investing LLC now owns 72,192 shares of the company's stock worth $7,050,000 after buying an additional 68,865 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of NU during the 1st quarter worth about $113,000. Cetera Investment Advisers boosted its holdings in shares of NU by 6.0% during the 4th quarter. Cetera Investment Advisers now owns 194,295 shares of the company's stock worth $2,013,000 after buying an additional 10,955 shares during the period. SG Americas Securities LLC boosted its holdings in shares of NU by 212.1% during the 1st quarter. SG Americas Securities LLC now owns 83,401 shares of the company's stock worth $854,000 after buying an additional 56,682 shares during the period. Finally, Unison Asset Management LLC boosted its holdings in shares of NU by 3.1% during the 1st quarter. Unison Asset Management LLC now owns 1,261,650 shares of the company's stock worth $12,798,000 after buying an additional 37,888 shares during the period. Institutional investors own 84.02% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NU shares. UBS Group lifted their target price on shares of NU from $14.30 to $15.60 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Bank of America lifted their target price on shares of NU from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, August 25th. JPMorgan Chase & Co. lifted their target price on shares of NU from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Friday. Santander raised shares of NU to a "neutral" rating in a report on Monday, August 25th. Finally, Bradesco Corretora raised shares of NU to an "outperform" rating and set a $17.00 price objective for the company in a report on Monday, August 25th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.06.

NU Stock Performance

NYSE NU traded down $0.12 during trading on Friday, reaching $14.75. The company's stock had a trading volume of 49,800,685 shares, compared to its average volume of 54,683,128. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $71.06 billion, a price-to-earnings ratio of 32.06, a price-to-earnings-growth ratio of 0.77 and a beta of 1.07. Nu Holdings Ltd. has a 12 month low of $9.01 and a 12 month high of $16.15. The firm has a 50 day moving average price of $13.31 and a 200 day moving average price of $12.23.

NU (NYSE:NU - Get Free Report) last posted 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 firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.78 billion. NU had a net margin of 17.90% and a return on equity of 29.91%. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, equities analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal 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.