Driehaus Capital Management LLC Purchases Shares of 2,860,083 Nu Holdings Ltd. (NYSE:NU)

Driehaus Capital Management LLC acquired a new stake in shares of Nu Holdings Ltd. (NYSE:NU) during the second quarter, HoldingsChannel reports. The fund acquired 2,860,083 shares of the company’s stock, valued at approximately $36,866,000.

A number of other hedge funds also recently made changes to their positions in NU. The Manufacturers Life Insurance Company raised its holdings in NU by 9.7% during the second quarter. The Manufacturers Life Insurance Company now owns 314,189 shares of the company’s stock valued at $4,050,000 after acquiring an additional 27,662 shares during the period. Engle Capital Management L.P. raised its stake in NU by 13.2% during the 2nd quarter. Engle Capital Management L.P. now owns 1,490,000 shares of the company’s stock valued at $19,206,000 after purchasing an additional 174,000 shares during the period. AQR Capital Management LLC lifted its holdings in NU by 19.5% in the 2nd quarter. AQR Capital Management LLC now owns 186,897 shares of the company’s stock worth $2,409,000 after purchasing an additional 30,498 shares in the last quarter. AXA S.A. bought a new stake in shares of NU during the second quarter valued at approximately $3,474,000. Finally, Insigneo Advisory Services LLC lifted its holdings in shares of NU by 13.8% in the second quarter. Insigneo Advisory Services LLC now owns 19,841 shares of the company’s stock worth $256,000 after buying an additional 2,410 shares in the last quarter. 80.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NU shares. Barclays raised their target price on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Bank of America boosted their target price on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Susquehanna reaffirmed a “positive” rating and issued a $16.00 price objective on shares of NU in a research note on Thursday, August 15th. UBS Group cut NU from a “buy” rating to a “neutral” rating and set a $13.50 price objective on the stock. in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of NU from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.08.

NU Trading Up 0.4 %

Shares of NU opened at $13.87 on Friday. The company has a market cap of $66.10 billion, a P/E ratio of 53.35, a P/E/G ratio of 0.67 and a beta of 1.17. Nu Holdings Ltd. has a twelve month low of $6.80 and a twelve month high of $15.16. The company’s fifty day simple moving average is $13.60 and its 200-day simple moving average is $12.49. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

NU (NYSE:NU) last announced its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. NU had a return on equity of 27.00% and a net margin of 15.11%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the business earned $0.05 earnings per share. As a group, analysts expect that Nu Holdings Ltd. will post 0.41 EPS for the current year.

NU Profile

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.