Jain Global LLC Purchases 406,238 Shares of Nu Holdings Ltd. $NU

Jain Global LLC lifted its position in shares of Nu Holdings Ltd. (NYSE:NU) by 419.8% in the third quarter, HoldingsChannel.com reports. The firm owned 502,999 shares of the company’s stock after purchasing an additional 406,238 shares during the period. Jain Global LLC’s holdings in NU were worth $8,053,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NU. State Street Corp increased its holdings in NU by 2.4% during the 2nd 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 during the period. WCM Investment Management LLC lifted its holdings in NU by 0.9% in the 3rd quarter. WCM Investment Management LLC now owns 74,478,698 shares of the company’s stock worth $1,187,935,000 after buying an additional 659,526 shares during the period. Sands Capital Management LLC grew its position in shares of NU by 5.9% in the 2nd quarter. Sands Capital Management LLC now owns 54,504,428 shares of the company’s stock worth $747,801,000 after buying an additional 3,060,463 shares during the last quarter. Norges Bank bought a new stake in shares of NU in the 2nd quarter worth approximately $626,569,000. Finally, Legal & General Group Plc increased its stake in shares of NU by 5.0% during the third quarter. Legal & General Group Plc now owns 30,176,407 shares of the company’s stock valued at $483,124,000 after buying an additional 1,430,827 shares during the period. 84.02% of the stock is owned by institutional investors.

NU Price Performance

Shares of NU opened at $14.25 on Tuesday. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $18.98. The company has a market capitalization of $68.64 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11. The firm has a 50 day moving average of $16.64 and a 200 day moving average of $16.23. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.39.

NU (NYSE:NU) last released its quarterly earnings data 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 return on equity of 30.68% and a net margin of 18.19%.The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.55 billion. As a group, equities research analysts anticipate that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings upgraded NU from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. UBS Group cut their price target on shares of NU from $18.40 to $17.20 and set a “neutral” rating on the stock in a report on Wednesday, March 4th. Zacks Research upgraded shares of NU from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. JPMorgan Chase & Co. raised 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. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 target price on shares of NU in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.