Granite Bay Wealth Management LLC Invests $677,000 in Nu Holdings Ltd. (NYSE:NU)

Granite Bay Wealth Management LLC bought a new position in shares of Nu Holdings Ltd. (NYSE:NU) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 52,533 shares of the company’s stock, valued at approximately $677,000.

Several other hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in NU by 56.2% during the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock valued at $29,000 after acquiring an additional 815 shares during the period. Stokes Family Office LLC boosted its holdings in NU by 10.0% during the first quarter. Stokes Family Office LLC now owns 11,000 shares of the company’s stock valued at $131,000 after acquiring an additional 1,000 shares during the period. Fortis Capital Management LLC boosted its holdings in NU by 6.6% during the second quarter. Fortis Capital Management LLC now owns 17,330 shares of the company’s stock valued at $223,000 after acquiring an additional 1,072 shares during the period. Americana Partners LLC boosted its holdings in NU by 7.8% during the second quarter. Americana Partners LLC now owns 15,449 shares of the company’s stock valued at $199,000 after acquiring an additional 1,115 shares during the period. Finally, Precision Wealth Strategies LLC boosted its holdings in NU by 3.2% during the first quarter. Precision Wealth Strategies LLC now owns 41,497 shares of the company’s stock valued at $495,000 after acquiring an additional 1,303 shares during the period. 80.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NU. UBS Group cut shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target for the company. in a report on Friday, August 2nd. Susquehanna reiterated a “positive” rating and issued a $16.00 target price on shares of NU in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on shares of NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Barclays increased their target price on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group increased their target price on shares of NU from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, NU presently has an average rating of “Moderate Buy” and an average target price of $14.08.

NU Stock Performance

Shares of NU stock opened at $13.44 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market cap of $64.03 billion, a P/E ratio of 51.67, a P/E/G ratio of 0.67 and a beta of 1.17. The firm has a 50 day simple moving average of $13.62 and a 200 day simple moving average of $12.53. Nu Holdings Ltd. has a fifty-two week low of $6.80 and a fifty-two week high of $15.16.

NU (NYSE:NU) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. NU had a net margin of 15.11% and a return on equity of 27.00%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the business posted $0.05 earnings per share. Sell-side analysts predict that Nu Holdings Ltd. will post 0.41 earnings per share for the current fiscal year.

About NU

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.