2,000,000 Shares in Nu Holdings Ltd. (NYSE:NU) Bought by Yong Rong HK Asset Management Ltd

Yong Rong HK Asset Management Ltd bought a new position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,000,000 shares of the company's stock, valued at approximately $20,480,000. NU makes up 4.8% of Yong Rong HK Asset Management Ltd's holdings, making the stock its 7th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in NU during the fourth quarter worth about $447,762,000. Arrowstreet Capital Limited Partnership lifted its stake in NU by 2,193.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 18,109,184 shares of the company's stock worth $187,611,000 after purchasing an additional 17,319,681 shares during the last quarter. D1 Capital Partners L.P. bought a new stake in NU during the fourth quarter worth about $154,209,000. Jericho Capital Asset Management L.P. bought a new stake in NU during the fourth quarter worth about $92,194,000. Finally, Northern Trust Corp lifted its stake in NU by 45.1% during the fourth quarter. Northern Trust Corp now owns 25,496,091 shares of the company's stock worth $264,140,000 after purchasing an additional 7,930,598 shares during the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Susquehanna boosted their target price on NU from $14.00 to $15.00 and gave the company a "positive" rating in a research note on Wednesday, May 14th. Barclays boosted their target price on NU from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Morgan Stanley reissued an "overweight" rating on shares of NU in a research note on Friday, June 13th. Finally, JPMorgan Chase & Co. upped their price target on NU from $14.50 to $16.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, NU has an average rating of "Moderate Buy" and an average price target of $15.50.

NU Stock Down 1.8%

NU traded down $0.25 during trading on Monday, hitting $13.35. 38,719,502 shares of the company's stock traded hands, compared to its average volume of 47,540,073. The company's 50 day simple moving average is $12.56 and its two-hundred day simple moving average is $11.83. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $16.15. The stock has a market capitalization of $64.33 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 0.77 and a beta of 1.07.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.09 billion. NU had a net margin of 17.88% and a return on equity of 30.77%. During the same period in the previous year, the company earned $0.09 earnings per share. Analysts predict 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.