Price T Rowe Associates Inc. MD Increases Position in Nu Holdings Ltd. $NU

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Nu Holdings Ltd. by 24.7%, purchasing an additional 10,785,851 shares during the first quarter, bringing its total ownership to over 54 million shares valued at approximately $557 million.
• Analyst ratings for Nu Holdings have been largely positive, with numerous firms raising their price targets, and the stock currently holds an average rating of "Moderate Buy" with a consensus price target of $16.56.
• The latest earnings report showed Nu Holdings beat estimates with $0.14 EPS for the quarter, compared to expectations of $0.12, while reporting a slightly lower revenue of $3.70 billion against an estimated $3.78 billion.

Price T Rowe Associates Inc. MD raised its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 24.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,435,568 shares of the company's stock after buying an additional 10,785,851 shares during the period. Price T Rowe Associates Inc. MD owned about 1.13% of NU worth $557,422,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. boosted its position in NU by 286,000.0% during the first quarter. NBC Securities Inc. now owns 2,861 shares of the company's stock valued at $29,000 after buying an additional 2,860 shares during the period. Capital Analysts LLC bought a new position in shares of NU during the first quarter valued at about $31,000. TFC Financial Management Inc. raised its stake in shares of NU by 74.1% during the first quarter. TFC Financial Management Inc. now owns 3,114 shares of the company's stock valued at $32,000 after acquiring an additional 1,325 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of NU by 51.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 3,815 shares of the company's stock valued at $39,000 after acquiring an additional 1,295 shares during the last quarter. Finally, Richards Merrill & Peterson Inc. raised its stake in shares of NU by 43.6% during the first quarter. Richards Merrill & Peterson Inc. now owns 4,115 shares of the company's stock valued at $42,000 after acquiring an additional 1,250 shares during the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of NU in a research note on Friday, June 13th. Citigroup raised shares of NU from a "sell" rating to a "buy" rating and upped their price objective for the company from $9.00 to $18.00 in a research note on Wednesday, August 20th. Santander raised shares of NU to a "neutral" rating in a research note on Monday. Itau BBA Securities raised shares of NU from a "market perform" rating to an "outperform" rating and set a $18.00 price objective for the company in a research note on Monday, August 18th. Finally, Bank of America upped their price objective on shares of NU from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.70.

NU Trading Up 0.4%

NU stock traded up $0.06 during trading on Tuesday, reaching $14.29. The company had a trading volume of 70,749,814 shares, compared to its average volume of 57,408,000. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $16.15. The company has a market cap of $68.83 billion, a P/E ratio of 31.06, a PEG ratio of 0.80 and a beta of 1.05. The business has a 50 day moving average of $12.94 and a 200 day moving average of $12.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.57 and a quick ratio of 0.57.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NU had a net margin of 17.90% and a return on equity of 29.91%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the firm earned $0.12 earnings per share. As a group, sell-side analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

NU Profile

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.