Skandinaviska Enskilda Banken AB publ Grows Stock Position in Nu Holdings Ltd. $NU

Skandinaviska Enskilda Banken AB publ increased its position in shares of Nu Holdings Ltd. (NYSE:NU) by 148.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,458,900 shares of the company’s stock after buying an additional 872,564 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in NU were worth $23,350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rathbones Group PLC increased its holdings in shares of NU by 119.0% in the second quarter. Rathbones Group PLC now owns 147,590 shares of the company’s stock valued at $2,025,000 after purchasing an additional 80,200 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of NU in the second quarter valued at approximately $39,848,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of NU by 14.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,695,159 shares of the company’s stock worth $219,259,000 after purchasing an additional 1,703,787 shares during the period. Washington University boosted its position in shares of NU by 1.5% during the 3rd quarter. Washington University now owns 10,566,927 shares of the company’s stock worth $169,177,000 after acquiring an additional 158,731 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of NU by 39.9% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 95,879 shares of the company’s stock worth $1,315,000 after buying an additional 27,335 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 analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on NU from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. UBS Group boosted their price objective on NU from $16.00 to $18.40 and gave the company a “neutral” rating in a report on Thursday, December 4th. Zacks Research raised NU from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. The Goldman Sachs Group restated a “buy” rating and issued a $21.00 target price on shares of NU in a research note on Thursday, December 18th. Finally, Susquehanna upped their price objective on NU from $19.00 to $22.00 and gave the company a “positive” rating in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.34.

NU Stock Up 0.2%

Shares of NYSE NU opened at $16.86 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average is $17.15 and its 200 day moving average is $15.92. The company has a market cap of $81.24 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 0.55 and a beta of 1.08. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $18.98.

About NU

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.