Lone Pine Capital LLC Makes New Investment in Nu Holdings Ltd. $NU

Lone Pine Capital LLC acquired a new stake in shares of Nu Holdings Ltd. (NYSE:NU) in the third quarter, HoldingsChannel.com reports. The fund acquired 25,406,449 shares of the company’s stock, valued at approximately $406,757,000. NU makes up approximately 3.0% of Lone Pine Capital LLC’s portfolio, making the stock its 19th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of NU. Verdence Capital Advisors LLC boosted its position in shares of NU by 1.8% during the third quarter. Verdence Capital Advisors LLC now owns 44,508 shares of the company’s stock worth $712,000 after acquiring an additional 804 shares during the last quarter. Canvas Wealth Advisors LLC increased its holdings in NU by 4.9% in the 3rd quarter. Canvas Wealth Advisors LLC now owns 19,087 shares of the company’s stock valued at $292,000 after acquiring an additional 900 shares during the last quarter. Covestor Ltd lifted its stake in NU by 8.2% in the 3rd quarter. Covestor Ltd now owns 12,194 shares of the company’s stock worth $195,000 after purchasing an additional 919 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in NU by 15.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 7,324 shares of the company’s stock worth $128,000 after purchasing an additional 972 shares in the last quarter. Finally, Core Wealth Partners LLC boosted its holdings in shares of NU by 8.0% during the 3rd quarter. Core Wealth Partners LLC now owns 13,500 shares of the company’s stock valued at $216,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

NU Stock Performance

Shares of NYSE:NU opened at $14.25 on Tuesday. The firm has a fifty day simple moving average of $16.64 and a two-hundred day simple moving average of $16.23. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $18.98. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $68.64 billion, a P/E ratio of 24.56, a PEG ratio of 0.54 and a beta of 1.11.

NU (NYSE:NU) last announced its earnings results on Wednesday, February 25th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. NU had a net margin of 18.19% and a return on equity of 30.68%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.55 billion. On average, analysts expect that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on NU from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. UBS Group decreased their target price on NU from $18.40 to $17.20 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. Zacks Research raised NU from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Santander raised NU from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 price objective on shares of NU in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.22.

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.