Granite Bay Wealth Management LLC Takes $677,000 Position in Nu Holdings Ltd. (NYSE:NU)

Granite Bay Wealth Management LLC purchased a new stake in Nu Holdings Ltd. (NYSE:NU) in the 2nd quarter, Holdings Channel reports. The firm purchased 52,533 shares of the company’s stock, valued at approximately $677,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NU. Baillie Gifford & Co. grew its holdings in shares of NU by 47.6% in the 1st quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock valued at $2,021,540,000 after buying an additional 54,681,625 shares during the period. Capital Research Global Investors grew its holdings in shares of NU by 20.7% in the 4th quarter. Capital Research Global Investors now owns 175,197,344 shares of the company’s stock valued at $1,459,403,000 after buying an additional 30,002,685 shares during the period. Jennison Associates LLC grew its holdings in shares of NU by 32.4% in the 1st quarter. Jennison Associates LLC now owns 87,155,886 shares of the company’s stock valued at $1,039,770,000 after buying an additional 21,342,814 shares during the period. Coatue Management LLC grew its holdings in shares of NU by 14.3% in the 4th quarter. Coatue Management LLC now owns 63,021,947 shares of the company’s stock valued at $524,973,000 after buying an additional 7,886,538 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of NU by 73.1% in the 2nd quarter. American Century Companies Inc. now owns 17,237,693 shares of the company’s stock valued at $222,194,000 after buying an additional 7,279,458 shares during the period. Institutional investors and hedge funds own 80.90% of the company’s stock.

NU Trading Down 1.6 %

NU stock opened at $13.44 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a 50-day moving average of $13.62 and a 200-day moving average of $12.53. The company has a market cap of $64.03 billion, a price-to-earnings ratio of 51.67, a P/E/G ratio of 0.67 and a beta of 1.17. Nu Holdings Ltd. has a one year low of $6.80 and a one year high of $15.16.

NU (NYSE:NU) last issued its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.90 billion. NU had a net margin of 15.11% and a return on equity of 27.00%. During the same period in the prior year, the firm earned $0.05 EPS. On average, equities analysts expect that Nu Holdings Ltd. will post 0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NU has been the subject of several research analyst reports. Jefferies Financial Group boosted their price target on shares of NU from $10.80 to $15.20 and gave the company a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. upped their target price on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Bank of America upped their target price on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Barclays upped their target price on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $16.00 target price on shares of NU in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.08.

About NU

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.