Pilgrim Partners Asia Pte Ltd Buys Shares of 71,000 Nu Holdings Ltd. $NU

Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Nu Holdings Ltd. (NYSE:NU) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 71,000 shares of the company’s stock, valued at approximately $1,137,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its position in NU by 2.4% during the second quarter. State Street Corp now owns 91,238,735 shares of the company’s stock valued at $1,251,795,000 after purchasing an additional 2,158,037 shares in the last quarter. Sands Capital Management LLC lifted its position in shares of NU by 5.9% during the 2nd quarter. Sands Capital Management LLC now owns 54,504,428 shares of the company’s stock valued at $747,801,000 after buying an additional 3,060,463 shares in the last quarter. Norges Bank bought a new position in shares of NU during the 2nd quarter valued at approximately $626,569,000. Jennison Associates LLC grew its stake in shares of NU by 38.1% during the 2nd quarter. Jennison Associates LLC now owns 41,962,679 shares of the company’s stock valued at $575,728,000 after acquiring an additional 11,567,865 shares during the period. Finally, Legal & General Group Plc increased its holdings in NU by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 28,745,580 shares of the company’s stock worth $394,389,000 after acquiring an additional 194,423 shares in the last quarter. 84.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on NU. JPMorgan Chase & Co. lifted their price target on shares of NU from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. KeyCorp raised their price objective on shares of NU from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Santander raised shares of NU from a “neutral” rating to an “outperform” rating in a report on Thursday, December 4th. Susquehanna reiterated a “positive” rating on shares of NU in a research note on Tuesday. Finally, UBS Group boosted their price objective on NU from $16.00 to $18.40 and gave the company a “neutral” rating in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NU has an average rating of “Moderate Buy” and an average price target of $18.04.

NU Price Performance

NU stock opened at $18.17 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. Nu Holdings Ltd. has a 52-week low of $9.01 and a 52-week high of $18.37. The firm’s fifty day moving average is $16.86 and its 200 day moving average is $15.40. The company has a market cap of $87.56 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 0.59 and a beta of 1.08.

NU (NYSE:NU) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $3.96 billion. NU had a return on equity of 30.12% and a net margin of 17.97%. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

NU Company Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.