43,220,314 Shares in Nu Holdings Ltd. (NYSE:NU) Bought by Norges Bank

Norges Bank bought a new stake in Nu Holdings Ltd. (NYSE:NU) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 43,220,314 shares of the company’s stock, valued at approximately $447,762,000. Norges Bank owned approximately 0.91% of NU at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NU. Piscataqua Savings Bank increased its holdings in NU by 500.0% during the fourth quarter. Piscataqua Savings Bank now owns 3,000 shares of the company’s stock worth $31,000 after buying an additional 2,500 shares during the last quarter. Campbell Capital Management Inc. acquired a new position in shares of NU during the 4th quarter worth about $52,000. Whipplewood Advisors LLC bought a new stake in shares of NU in the 4th quarter valued at about $62,000. Ethos Financial Group LLC acquired a new stake in NU in the 4th quarter valued at about $82,000. Finally, Berbice Capital Management LLC bought a new position in NU during the fourth quarter worth about $93,000. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays cut their price objective on NU from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. cut their price target on NU from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Citigroup downgraded shares of NU from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $14.60 to $11.00 in a report on Monday, December 2nd. Finally, UBS Group cut their target price on shares of NU from $15.50 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, NU currently has a consensus rating of “Hold” and a consensus target price of $15.47.

NU Price Performance

NYSE:NU opened at $10.34 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market cap of $49.26 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 0.48 and a beta of 1.14. Nu Holdings Ltd. has a 52 week low of $9.67 and a 52 week high of $16.15. The firm’s 50-day simple moving average is $12.04 and its 200 day simple moving average is $12.76.

NU (NYSE:NU) last released its quarterly earnings results 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 during 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%. As a group, sell-side analysts predict that Nu Holdings Ltd. will post 0.58 earnings per share for the current 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.