Mirae Asset Global Investments Co. Ltd. Has $2.40 Million Stock Position in Nu Holdings Ltd. $NU

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Nu Holdings Ltd. (NYSE:NU) by 71.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 175,013 shares of the company’s stock after selling 444,916 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NU were worth $2,401,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. raised its stake in NU by 17.9% during the 1st quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company’s stock worth $2,715,243,000 after buying an additional 40,181,132 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of NU by 24.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company’s stock valued at $557,422,000 after buying an additional 10,785,851 shares in the last quarter. Kontiki Capital Management HK Ltd. lifted its stake in shares of NU by 54.3% in the first quarter. Kontiki Capital Management HK Ltd. now owns 32,575,725 shares of the company’s stock valued at $333,575,000 after buying an additional 11,465,700 shares in the last quarter. Northern Trust Corp lifted its stake in shares of NU by 9.3% in the first quarter. Northern Trust Corp now owns 27,869,591 shares of the company’s stock valued at $285,385,000 after buying an additional 2,373,500 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of NU by 13.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,830,023 shares of the company’s stock valued at $223,539,000 after buying an additional 2,597,714 shares in the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NU has been the topic of several analyst reports. Susquehanna lifted their target price on NU from $15.00 to $17.00 and gave the company a “positive” rating in a research report on Wednesday, August 27th. Citigroup raised shares of NU from a “sell” rating to a “buy” rating and lifted their price target for the stock from $9.00 to $18.00 in a report on Wednesday, August 20th. Bank of America upped their price objective on shares of NU from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Bradesco Corretora raised NU to an “outperform” rating and set a $17.00 price target for the company in a report on Monday, August 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NU in a report on Saturday, September 27th. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, NU currently has an average rating of “Moderate Buy” and a consensus target price of $17.06.

NU Price Performance

Shares of NYSE:NU opened at $15.13 on Wednesday. The company has a 50 day moving average of $14.39 and a 200 day moving average of $12.93. The stock has a market cap of $72.88 billion, a P/E ratio of 32.88, a P/E/G ratio of 0.80 and a beta of 1.08. Nu Holdings Ltd. has a 12 month low of $9.01 and a 12 month high of $16.42. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24.

NU (NYSE:NU) last announced its earnings results on Thursday, August 14th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same period in the prior year, the company earned $0.12 EPS. As a group, sell-side analysts forecast 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.