Barings LLC Boosts Stake in Nu Holdings Ltd. $NU

Barings LLC boosted its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,586,267 shares of the company’s stock after acquiring an additional 146,798 shares during the period. NU accounts for approximately 0.5% of Barings LLC’s investment portfolio, making the stock its 27th biggest position. Barings LLC’s holdings in NU were worth $25,396,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its position in shares of NU by 2.4% in the second 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 in the last quarter. WCM Investment Management LLC lifted its position in NU by 0.9% during the third 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 in the last quarter. Sands Capital Management LLC boosted its stake in NU by 5.9% during the second 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 acquired a new position in NU during the second quarter worth $626,569,000. Finally, Jennison Associates LLC grew its holdings in NU by 38.1% in the 2nd quarter. Jennison Associates LLC now owns 41,962,679 shares of the company’s stock valued at $575,728,000 after buying an additional 11,567,865 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Stock Performance

Shares of NU stock opened at $17.55 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $84.55 billion, a P/E ratio of 34.40, a P/E/G ratio of 0.56 and a beta of 1.08. The firm’s 50 day moving average price is $17.18 and its 200-day moving average price is $15.98. Nu Holdings Ltd. has a one year low of $9.01 and a one year high of $18.98.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NU. UBS Group boosted their price target on shares of NU from $16.00 to $18.40 and gave the company a “neutral” rating in a research report on Thursday, December 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $21.00 target price on shares of NU in a report on Thursday, December 18th. Weiss Ratings raised shares of NU from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Santander raised shares of NU from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 4th. Finally, KeyCorp increased their price objective on NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.34.

NU Company 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.