Fred Alger Management LLC Cuts Position in Nu Holdings Ltd. $NU

Fred Alger Management LLC lowered its position in shares of Nu Holdings Ltd. (NYSE:NU) by 23.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 911,511 shares of the company’s stock after selling 273,624 shares during the quarter. Fred Alger Management LLC’s holdings in NU were worth $14,593,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Clough Capital Partners L P purchased a new position in NU in the third quarter valued at approximately $808,000. Capula Management Ltd purchased a new stake in NU during the third quarter worth approximately $1,598,000. Avala Global LP grew its stake in NU by 229.4% during the third quarter. Avala Global LP now owns 4,810,600 shares of the company’s stock worth $77,018,000 after buying an additional 3,350,300 shares during the period. Bamco Inc. NY increased its position in shares of NU by 21.7% in the third quarter. Bamco Inc. NY now owns 1,738,774 shares of the company’s stock worth $27,838,000 after acquiring an additional 310,365 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of NU by 9.6% in the 3rd quarter. California Public Employees Retirement System now owns 5,761,091 shares of the company’s stock valued at $92,235,000 after acquiring an additional 505,419 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NU. Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a research report on Tuesday, February 24th. Susquehanna raised their price objective on NU from $19.00 to $22.00 and gave the company a “positive” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group restated a “buy” rating and set a $21.00 price objective on shares of NU in a research note on Thursday, December 18th. Zacks Research raised NU from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. Finally, JPMorgan Chase & Co. increased their target price on NU from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.22.

NU Stock Up 2.6%

Shares of NYSE:NU opened at $14.25 on Tuesday. The firm has a market cap of $68.64 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11. The company has a fifty day simple moving average of $16.64 and a 200 day simple moving average of $16.23. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.39. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $18.98.

NU (NYSE:NU) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.55 billion. NU had a net margin of 18.19% and a return on equity of 30.68%. On average, equities research analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current fiscal year.

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.