State of Michigan Retirement System lifted its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 42.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 540,800 shares of the company's stock after acquiring an additional 160,100 shares during the period. State of Michigan Retirement System's holdings in NU were worth $9,053,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in NU. Baillie Gifford & Co. grew its position in NU by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company's stock worth $4,306,481,000 after purchasing an additional 5,797,365 shares during the period. State Street Corp grew its position in NU by 0.3% in the 3rd quarter. State Street Corp now owns 91,478,395 shares of the company's stock worth $1,464,569,000 after purchasing an additional 239,660 shares during the period. WCM Investment Management LLC grew its position in NU by 0.9% in the 3rd quarter. WCM Investment Management LLC now owns 74,478,698 shares of the company's stock worth $1,187,935,000 after purchasing an additional 659,526 shares during the period. Legal & General Group Plc grew its position in NU by 5.0% in the 3rd quarter. Legal & General Group Plc now owns 30,176,407 shares of the company's stock worth $483,124,000 after purchasing an additional 1,430,827 shares during the period. Finally, Marshall Wace LLP grew its position in NU by 98.4% in the 3rd quarter. Marshall Wace LLP now owns 29,141,505 shares of the company's stock worth $466,555,000 after purchasing an additional 14,449,834 shares during the period. Institutional investors own 84.02% of the company's stock.
Insider Activity
In other news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the business's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total transaction of $4,443,000.00. Following the completion of the sale, the chief executive officer owned 2,312,338 shares of the company's stock, valued at $34,245,725.78. The trade was a 11.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.
NU Trading Down 0.9%
Shares of NU stock opened at $14.52 on Wednesday. Nu Holdings Ltd. has a 1 year low of $11.71 and a 1 year high of $18.98. The firm has a fifty day moving average price of $14.84 and a 200-day moving average price of $16.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $70.48 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 0.59 and a beta of 1.10.
NU (NYSE:NU - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. NU had a net margin of 18.19% and a return on equity of 30.68%. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.55 billion. As a group, equities analysts predict that Nu Holdings Ltd. will post 0.84 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. Bank of America reaffirmed a "neutral" rating on shares of NU in a research report on Monday, March 9th. CICC Research assumed coverage on shares of NU in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $18.00 target price for the company. Itau BBA Securities reaffirmed an "outperform" rating on shares of NU in a research report on Tuesday, March 17th. Zacks Research downgraded shares of NU from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Finally, Susquehanna lifted their target price on shares of NU from $19.00 to $22.00 and gave the stock a "positive" rating in a research report on Tuesday, January 27th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, NU presently has an average rating of "Moderate Buy" and an average price target of $18.46.
View Our Latest Stock Analysis on NU
NU Profile
(
Free Report)
Nu Holdings Ltd NYSE: NU, commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.
Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.
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Want to see what other hedge funds are holding NU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nu Holdings Ltd. (NYSE:NU - Free Report).
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