Ninety One UK Ltd Boosts Stake in Nu Holdings Ltd. (NYSE:NU)

Ninety One UK Ltd grew its position in Nu Holdings Ltd. (NYSE:NU - Free Report) by 29.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 769,241 shares of the company's stock after acquiring an additional 175,922 shares during the quarter. Ninety One UK Ltd's holdings in NU were worth $7,877,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Yong Rong HK Asset Management Ltd acquired a new stake in NU during the first quarter worth $20,480,000. Fullcircle Wealth LLC acquired a new stake in NU during the first quarter worth $142,000. Envestnet Asset Management Inc. increased its stake in NU by 3.8% during the first quarter. Envestnet Asset Management Inc. now owns 3,351,880 shares of the company's stock worth $34,323,000 after acquiring an additional 123,630 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in NU during the first quarter worth $109,000. Finally, Bank of New York Mellon Corp increased its stake in NU by 6.5% during the first quarter. Bank of New York Mellon Corp now owns 9,145,692 shares of the company's stock worth $93,652,000 after acquiring an additional 554,428 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NU. Morgan Stanley reissued an "overweight" rating on shares of NU in a research note on Friday, June 13th. Susquehanna raised their target price on NU from $14.00 to $15.00 and gave the stock a "positive" rating in a research note on Wednesday, May 14th. Barclays lifted their price objective on NU from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their price objective on NU from $14.50 to $16.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $15.50.

NU Stock Up 0.3%

NU traded up $0.04 on Wednesday, hitting $13.63. 56,122,533 shares of the company were exchanged, compared to its average volume of 47,812,460. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $16.15. The company has a market cap of $65.68 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $12.61 and a two-hundred day moving average price of $11.86.

NU (NYSE:NU - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). NU had a return on equity of 30.77% and a net margin of 17.88%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. On average, equities 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.