Fred Alger Management LLC Increases Stake in Nu Holdings Ltd. (NYSE:NU)

Fred Alger Management LLC increased its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 34.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 899,567 shares of the company's stock after buying an additional 232,406 shares during the period. Fred Alger Management LLC's holdings in NU were worth $9,320,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NU. Baader Bank Aktiengesellschaft grew its holdings in shares of NU by 19.6% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 355,332 shares of the company's stock valued at $3,680,000 after buying an additional 58,183 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of NU by 7.1% during the 4th quarter. Baillie Gifford & Co. now owns 224,979,342 shares of the company's stock worth $2,330,786,000 after purchasing an additional 14,875,891 shares during the last quarter. Barclays PLC increased its stake in shares of NU by 55.7% during the 3rd quarter. Barclays PLC now owns 1,005,022 shares of the company's stock worth $13,718,000 after purchasing an additional 359,733 shares during the last quarter. Carnegie Investment Counsel increased its stake in shares of NU by 5.4% during the 4th quarter. Carnegie Investment Counsel now owns 1,347,980 shares of the company's stock worth $13,965,000 after purchasing an additional 68,850 shares during the last quarter. Finally, Artemis Investment Management LLP grew its stake in NU by 73.3% in the 4th quarter. Artemis Investment Management LLP now owns 571,753 shares of the company's stock valued at $5,923,000 after buying an additional 241,907 shares in the last quarter. Institutional investors own 84.02% of the company's stock.

Analyst Ratings Changes

NU has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of NU from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $14.00 to $13.00 in a research note on Tuesday, April 8th. Barclays lifted their target price on shares of NU from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, UBS Group decreased their target price on shares of NU from $15.50 to $15.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.47.

NU Stock Up 0.7%

NYSE:NU traded up $0.09 during mid-day trading on Monday, hitting $12.92. 51,460,211 shares of the company's stock were exchanged, compared to its average volume of 41,974,670. The business has a fifty day moving average price of $11.19 and a 200 day moving average price of $12.10. The company has a market cap of $62.25 billion, a PE ratio of 32.30, a P/E/G ratio of 0.48 and a beta of 1.11. Nu Holdings Ltd. has a one year low of $9.01 and a one year high of $16.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44.

NU (NYSE:NU - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.12 earnings per share for the quarter, meeting analysts' consensus estimates of $0.12. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.17 billion. NU had a net margin of 17.12% and a return on equity of 30.99%. Equities analysts predict that Nu Holdings Ltd. will post 0.58 EPS for the current 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.