Nu Holdings Ltd. $NU Shares Acquired by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D increased its holdings in Nu Holdings Ltd. by 13.8%, owning over 1.55 million shares worth approximately $15.89 million.
• Several hedge funds made significant adjustments to their stakes in Nu, with GAMMA Investing LLC boosting its position by an astonishing 2,069.9% in the first quarter.
• Analysts have raised their price targets for Nu Holdings, with Barclays and JPMorgan now setting targets of $16.00, reflecting positive sentiment around the stock.

State of New Jersey Common Pension Fund D grew its position in Nu Holdings Ltd. (NYSE:NU - Free Report) by 13.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,551,567 shares of the company's stock after buying an additional 188,498 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in NU were worth $15,888,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. lifted its holdings in shares of 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. lifted its holdings in shares of 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 lifted its holdings in shares of 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. Richards Merrill & Peterson Inc. lifted its holdings in shares of NU by 43.6% in the 1st quarter. Richards Merrill & Peterson Inc. now owns 4,115 shares of the company's stock worth $42,000 after buying an additional 1,250 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of 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. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

NU Stock Up 0.3%

NYSE:NU traded up $0.0420 during mid-day trading on Thursday, hitting $13.6620. 57,312,521 shares of the company's stock traded hands, compared to its average volume of 57,271,195. The company has a fifty day moving average of $12.83 and a 200 day moving average of $12.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.54 and a current ratio of 0.57. The company has a market capitalization of $65.83 billion, a P/E ratio of 29.70, a P/E/G ratio of 0.75 and a beta of 1.05. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $16.15.

NU (NYSE:NU - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same period in the prior year, the company earned $0.12 earnings per share. On average, analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

NU has been the subject of several recent research reports. Citigroup raised NU from a "sell" rating to a "buy" rating and boosted their price target for the stock from $9.00 to $18.00 in a research report on Wednesday. Itau BBA Securities raised NU from a "market perform" rating to an "outperform" rating and set a $18.00 price target for the company in a research report on Monday. Barclays boosted their price target on NU from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on NU from $14.50 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. Finally, Morgan Stanley reissued an "overweight" rating on shares of NU in a research report on Friday, June 13th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, NU has a consensus rating of "Moderate Buy" and a consensus price target of $16.56.

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.