Assenagon Asset Management S.A. Purchases 7,709,707 Shares of Nu Holdings Ltd. $NU

Assenagon Asset Management S.A. boosted its position in Nu Holdings Ltd. (NYSE:NU) by 91.9% in the 3rd quarter, Holdings Channel reports. The firm owned 16,101,679 shares of the company’s stock after buying an additional 7,709,707 shares during the quarter. Assenagon Asset Management S.A.’s holdings in NU were worth $257,788,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NU. Norges Bank bought a new stake in shares of NU during the 2nd quarter worth approximately $626,569,000. Orbis Allan Gray Ltd bought a new position in NU in the 1st quarter valued at $150,763,000. Jennison Associates LLC increased its stake in NU by 38.1% in the second quarter. Jennison Associates LLC now owns 41,962,679 shares of the company’s stock worth $575,728,000 after purchasing an additional 11,567,865 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of NU by 24.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company’s stock worth $557,422,000 after purchasing an additional 10,785,851 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of NU by 120.7% during the first quarter. Canada Pension Plan Investment Board now owns 17,619,939 shares of the company’s stock valued at $180,428,000 after purchasing an additional 9,634,900 shares during the period. Institutional investors own 84.02% of the company’s stock.

Wall Street Analyst Weigh In

NU has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of NU from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. KeyCorp upped their target price on shares of NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Bank of America lifted their price target on shares of NU from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of NU in a report on Wednesday, October 8th. Finally, UBS Group raised their price objective on NU from $16.00 to $18.40 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.71.

NU Trading Down 2.7%

NYSE:NU opened at $16.20 on Wednesday. The firm has a 50-day simple moving average of $16.08 and a 200-day simple moving average of $14.52. Nu Holdings Ltd. has a one year low of $9.01 and a one year high of $17.84. The firm has a market cap of $78.04 billion, a P/E ratio of 31.76, a P/E/G ratio of 0.79 and a beta of 1.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56.

NU (NYSE:NU) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company 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%. Equities analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

NU 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.