Ping Capital Management Inc. Acquires New Position in Nu Holdings Ltd. (NYSE:NU)

Ping Capital Management Inc. bought a new position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 32,300 shares of the company's stock, valued at approximately $331,000.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. boosted its holdings in NU by 286,000.0% in the 1st quarter. NBC Securities Inc. now owns 2,861 shares of the company's stock worth $29,000 after buying an additional 2,860 shares during the period. TFC Financial Management Inc. boosted its holdings in NU by 74.1% in the 1st quarter. TFC Financial Management Inc. now owns 3,114 shares of the company's stock worth $32,000 after buying an additional 1,325 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in NU by 51.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock worth $39,000 after buying an additional 1,295 shares during the period. Farther Finance Advisors LLC boosted its holdings in NU by 128.7% in the 1st quarter. Farther Finance Advisors LLC now owns 4,250 shares of the company's stock worth $44,000 after buying an additional 2,392 shares during the period. Finally, Orion Capital Management LLC bought a new position in NU in the 4th quarter worth approximately $50,000. 84.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NU has been the subject of several analyst reports. Morgan Stanley reissued an "overweight" rating on shares of NU in a report on Friday, June 13th. JPMorgan Chase & Co. raised their price target on shares of NU from $14.50 to $16.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Susquehanna raised their price target on shares of NU from $14.00 to $15.00 and gave the company a "positive" rating in a report on Wednesday, May 14th. Finally, Barclays raised their price target on shares of NU from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.

NU Trading Down 6.9%

Shares of NYSE NU traded down $0.97 during midday trading on Friday, hitting $13.02. 91,449,233 shares of the company traded hands, compared to its average volume of 49,990,995. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $16.15. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a 50-day moving average price of $12.75 and a 200 day moving average price of $12.02. The firm has a market cap of $62.74 billion, a P/E ratio of 30.28, a P/E/G ratio of 0.80 and a beta of 1.07.

NU (NYSE:NU - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). The firm had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.09 billion. NU had a net margin of 17.88% and a return on equity of 30.77%. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, analysts expect 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.