Sheets Smith Investment Management Makes New $987,000 Investment in Nu Holdings Ltd. $NU

Sheets Smith Investment Management purchased a new stake in shares of Nu Holdings Ltd. (NYSE:NU) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 61,621 shares of the company’s stock, valued at approximately $987,000.

A number of other hedge funds have also modified their holdings of the stock. Armstrong Advisory Group Inc. acquired a new stake in NU during the second quarter valued at $27,000. Quaker Wealth Management LLC raised its stake in shares of NU by 212.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock worth $32,000 after purchasing an additional 4,341 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of NU by 474.1% during the 2nd quarter. ORG Partners LLC now owns 2,325 shares of the company’s stock valued at $32,000 after buying an additional 1,920 shares during the last quarter. Allworth Financial LP grew its stake in shares of NU by 166.6% in the 2nd quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock valued at $35,000 after buying an additional 1,601 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in NU in the second quarter worth approximately $36,000. 84.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NU has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of NU in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of NU from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Bank of America upped their price objective on shares of NU from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. UBS Group increased their price target on NU from $16.00 to $18.40 and gave the company a “neutral” rating in a report on Thursday, December 4th. Finally, KeyCorp lifted their price objective on NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.04.

NU Stock Performance

Shares of NU stock opened at $16.28 on Friday. The firm has a market cap of $78.45 billion, a P/E ratio of 31.92, a P/E/G ratio of 0.76 and a beta of 1.07. Nu Holdings Ltd. has a fifty-two week low of $9.01 and a fifty-two week high of $17.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a 50 day simple moving average of $16.10 and a 200 day simple moving average of $14.55.

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

NU Company 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.