Scge Management L.P. Has $50.96 Million Position in Nu Holdings Ltd. $NU

Key Points

• Scge Management L.P. reduced its stake in Nu Holdings Ltd. by 42.5%, selling 3,671,493 shares, and now owns approximately 4.98 million shares valued at $50.96 million.
• Institutional ownership in Nu Holdings Ltd. is high, with 84.02% of the company's stock held by institutional investors and hedge funds.
• Analysts have upgraded NU's stock ratings, with Citigroup raising its price target from $9.00 to $18.00 and the average rating now classified as a "Moderate Buy."

Scge Management L.P. trimmed its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 42.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,976,507 shares of the company's stock after selling 3,671,493 shares during the period. NU accounts for 1.5% of Scge Management L.P.'s investment portfolio, making the stock its 14th biggest holding. Scge Management L.P. owned 0.10% of NU worth $50,959,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in shares of NU by 17.9% in the first quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company's stock worth $2,715,243,000 after buying an additional 40,181,132 shares during the period. Nuveen LLC acquired a new position in NU during the first quarter valued at $221,317,000. Orbis Allan Gray Ltd purchased a new stake in NU in the 1st quarter worth about $150,763,000. Kontiki Capital Management HK Ltd. boosted its position in NU by 54.3% during the 1st quarter. Kontiki Capital Management HK Ltd. now owns 32,575,725 shares of the company's stock worth $333,575,000 after acquiring an additional 11,465,700 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in NU by 24.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company's stock worth $557,422,000 after acquiring an additional 10,785,851 shares during the period. 84.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NU has been the topic of a number of research reports. Citigroup upgraded NU from a "sell" rating to a "buy" rating and upped their target price for the company from $9.00 to $18.00 in a report on Wednesday, August 20th. Santander upgraded shares of NU to a "neutral" rating in a research note on Monday, August 25th. JPMorgan Chase & Co. increased their target price on shares of NU from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Friday. Susquehanna boosted their price target on shares of NU from $15.00 to $17.00 and gave the company a "positive" rating in a report on Wednesday, August 27th. Finally, Bank of America upped their price target on shares of NU from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $17.06.

NU Stock Up 1.5%

NYSE NU traded up $0.23 during trading on Tuesday, reaching $15.45. The company's stock had a trading volume of 40,615,479 shares, compared to its average volume of 57,046,848. 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 stock has a market capitalization of $74.45 billion, a PE ratio of 33.59, a PEG ratio of 0.79 and a beta of 1.07. Nu Holdings Ltd. has a 1-year low of $9.01 and a 1-year high of $16.15. The business has a 50-day moving average price of $13.37 and a 200-day moving average price of $12.28.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates 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 business earned $0.12 EPS. On average, research analysts forecast that Nu Holdings Ltd. will post 0.58 earnings per share 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.