Sheets Smith Wealth Management Makes New $422,000 Investment in Nu Holdings Ltd. (NYSE:NU)

Sheets Smith Wealth Management bought a new position in shares of Nu Holdings Ltd. (NYSE:NU) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 35,386 shares of the company’s stock, valued at approximately $422,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NU. Capital Research Global Investors boosted its holdings in shares of NU by 20.7% in the 4th quarter. Capital Research Global Investors now owns 175,197,344 shares of the company’s stock valued at $1,459,403,000 after buying an additional 30,002,685 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of NU by 47.6% in the 1st quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock valued at $2,021,540,000 after buying an additional 54,681,625 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of NU by 1,157.4% in the 1st quarter. WCM Investment Management LLC now owns 99,965,627 shares of the company’s stock valued at $1,192,590,000 after buying an additional 92,015,719 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of NU by 32.4% in the 1st quarter. Jennison Associates LLC now owns 87,155,886 shares of the company’s stock valued at $1,039,770,000 after buying an additional 21,342,814 shares in the last quarter. Finally, Sands Capital Management LLC boosted its holdings in shares of NU by 92.7% in the 4th quarter. Sands Capital Management LLC now owns 85,220,661 shares of the company’s stock valued at $709,888,000 after buying an additional 40,992,413 shares in the last quarter. 80.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on NU shares. Susquehanna lifted their target price on shares of NU from $14.00 to $16.00 and gave the stock a “positive” rating in a research note on Tuesday. Barclays initiated coverage on shares of NU in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $15.00 target price for the company. Jefferies Financial Group raised their price target on shares of NU from $10.80 to $15.20 and gave the stock a “buy” rating in a research report on Monday, June 24th. KeyCorp raised their price target on shares of NU from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group raised their price target on shares of NU from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.43.

NU Price Performance

NU traded down $0.36 on Wednesday, hitting $13.22. 28,666,242 shares of the company’s stock were exchanged, compared to its average volume of 28,893,369. Nu Holdings Ltd. has a fifty-two week low of $6.61 and a fifty-two week high of $13.64. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $12.15 and a 200-day moving average price of $11.09. The stock has a market cap of $63.01 billion, a price-to-earnings ratio of 50.85, a P/E/G ratio of 0.63 and a beta of 1.14.

NU (NYSE:NU) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.58 billion. NU had a net margin of 13.86% and a return on equity of 22.94%. As a group, equities analysts anticipate that Nu Holdings Ltd. will post 0.41 earnings per share for the current year.

NU Profile

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.