Sumitomo Mitsui Trust Group Inc. Boosts Stake in Nu Holdings Ltd. $NU

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Nu Holdings Ltd. (NYSE:NU) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,695,159 shares of the company’s stock after acquiring an additional 1,703,787 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in NU were worth $219,259,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

NU has been the subject of several research reports. Zacks Research raised NU from a “hold” rating to a “strong-buy” rating in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of NU in a research report on Wednesday, October 8th. UBS Group boosted their price objective on shares of NU from $16.00 to $18.40 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. KeyCorp raised their target price on shares of NU from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NU from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.04.

NU Stock Down 2.4%

NU opened at $17.05 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. The firm has a market cap of $82.13 billion, a P/E ratio of 33.42, a PEG ratio of 0.58 and a beta of 1.08. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $18.37. The business’s fifty day simple moving average is $16.62 and its 200 day simple moving average is $15.14.

NU (NYSE:NU) last announced its earnings results 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.96 billion. NU had a net margin of 17.97% and a return on equity of 30.12%. As a group, equities research analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

NU 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.