Resona Asset Management Co. Ltd. Purchases 100,605 Shares of Nu Holdings Ltd. $NU

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Nu Holdings Ltd. by 13.5%, now owning a total of 847,013 shares valued at approximately $8.69 million.
• Nu Holdings reported an EPS of $0.14 for the last quarter, surpassing the consensus estimate of $0.12, although revenue fell short at $3.70 billion compared to expectations of $3.78 billion.
• Analysts have set a new average price target of $15.50 for Nu Holdings, with a consensus rating categorized as "Moderate Buy" based on multiple upgraded ratings from various financial institutions.

Resona Asset Management Co. Ltd. grew its stake in Nu Holdings Ltd. (NYSE:NU - Free Report) by 13.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 847,013 shares of the company's stock after acquiring an additional 100,605 shares during the period. Resona Asset Management Co. Ltd.'s holdings in NU were worth $8,687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NU. Raymond James Financial Inc. bought a new stake in shares of NU during the fourth quarter worth approximately $3,499,000. Rockefeller Capital Management L.P. lifted its stake in NU by 241.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 260,419 shares of the company's stock valued at $2,698,000 after buying an additional 184,233 shares during the period. Townsquare Capital LLC lifted its stake in NU by 555.0% in the fourth quarter. Townsquare Capital LLC now owns 94,650 shares of the company's stock valued at $981,000 after buying an additional 80,199 shares during the period. Barclays PLC lifted its stake in NU by 10.7% in the fourth quarter. Barclays PLC now owns 1,112,243 shares of the company's stock valued at $11,523,000 after buying an additional 107,221 shares during the period. Finally, Mariner LLC lifted its stake in NU by 4.6% in the fourth quarter. Mariner LLC now owns 1,775,845 shares of the company's stock valued at $18,398,000 after buying an additional 78,090 shares during the period. 84.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of NU in a research note on Friday, June 13th. Susquehanna increased their target price on shares of NU from $14.00 to $15.00 and gave the stock a "positive" rating in a report on Wednesday, May 14th. Itau BBA Securities upgraded shares of NU from a "market perform" rating to an "outperform" rating and set a $18.00 price target for the company in a research note on Monday. JPMorgan Chase & Co. raised their price objective on NU from $14.50 to $16.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. Finally, Barclays raised their price objective on NU from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.78.

NU Stock Performance

NYSE NU traded up $0.23 during trading on Monday, reaching $13.33. The company's stock had a trading volume of 70,197,634 shares, compared to its average volume of 56,987,969. 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 market capitalization of $64.24 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 0.74 and a beta of 1.05. 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 $12.76 and a 200 day moving average price of $12.15.

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 31.42%. 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.

NU Company 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.