Lansforsakringar Fondforvaltning AB publ Raises Stock Holdings in Nu Holdings Ltd. $NU

Lansforsakringar Fondforvaltning AB publ lifted its holdings in Nu Holdings Ltd. (NYSE:NU) by 12.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 655,224 shares of the company’s stock after purchasing an additional 71,933 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in NU were worth $10,490,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NU. State Street Corp grew its stake in shares of NU by 2.4% in the 2nd quarter. State Street Corp now owns 91,238,735 shares of the company’s stock worth $1,251,795,000 after buying an additional 2,158,037 shares in the last quarter. WCM Investment Management LLC grew its position in NU by 0.9% in the third quarter. WCM Investment Management LLC now owns 74,478,698 shares of the company’s stock worth $1,187,935,000 after acquiring an additional 659,526 shares in the last quarter. Sands Capital Management LLC increased 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 acquiring an additional 3,060,463 shares during the last quarter. Norges Bank purchased a new stake in NU during the second quarter valued at approximately $626,569,000. Finally, Jennison Associates LLC lifted its stake in shares of 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 purchasing an additional 11,567,865 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Trading Down 7.8%

NU stock opened at $16.16 on Tuesday. Nu Holdings Ltd. has a 12 month low of $9.01 and a 12 month high of $18.98. The firm’s 50-day moving average is $17.17 and its 200 day moving average is $16.06. The company has a market capitalization of $77.86 billion, a PE ratio of 31.68, a P/E/G ratio of 0.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NU shares. Susquehanna increased their price target on NU from $19.00 to $22.00 and gave the company a “positive” rating in a report on Tuesday, January 27th. Santander raised shares of NU from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 4th. JPMorgan Chase & Co. raised their target price 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 price target on shares of NU from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, Zacks Research raised shares of NU from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.34.

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.