Long Walk Management LP Buys 1,570,000 Shares of Nu Holdings Ltd. $NU

Long Walk Management LP lifted its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 84.4% during the third quarter, Holdings Channel reports. The firm owned 3,430,000 shares of the company’s stock after purchasing an additional 1,570,000 shares during the quarter. NU makes up approximately 11.1% of Long Walk Management LP’s portfolio, making the stock its 5th largest holding. Long Walk Management LP’s holdings in NU were worth $54,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rathbones Group PLC grew its position in NU by 119.0% in the second quarter. Rathbones Group PLC now owns 147,590 shares of the company’s stock worth $2,025,000 after acquiring an additional 80,200 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of NU in the 2nd quarter valued at $39,848,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of NU by 14.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,695,159 shares of the company’s stock valued at $219,259,000 after purchasing an additional 1,703,787 shares during the last quarter. Washington University boosted its holdings in NU by 1.5% in the third quarter. Washington University now owns 10,566,927 shares of the company’s stock worth $169,177,000 after purchasing an additional 158,731 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in NU by 39.9% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 95,879 shares of the company’s stock worth $1,315,000 after buying an additional 27,335 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NU. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 price target on shares of NU in a research report on Thursday, December 18th. Santander raised NU from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 4th. Susquehanna boosted their target price on NU from $19.00 to $22.00 and gave the stock a “positive” rating in a report on Tuesday, January 27th. JPMorgan Chase & Co. increased their price target on NU from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Finally, KeyCorp lifted their price target on shares of NU from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.34.

NU Price Performance

Shares of NYSE:NU opened at $16.83 on Tuesday. The company has a market cap of $81.12 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 0.55 and a beta of 1.08. The business has a 50 day moving average price of $17.14 and a 200 day moving average price of $15.89. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. Nu Holdings Ltd. has a twelve month low of $9.01 and a twelve month high of $18.98.

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.