Allspring Global Investments Holdings LLC Purchases New Holdings in Nu Holdings Ltd. (NYSE:NU)

Allspring Global Investments Holdings LLC purchased a new stake in Nu Holdings Ltd. (NYSE:NU) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,820 shares of the company’s stock, valued at approximately $113,000.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in NU during the fourth quarter valued at approximately $447,762,000. Geode Capital Management LLC raised its position in NU by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 33,777,551 shares of the company’s stock valued at $348,774,000 after purchasing an additional 1,179,748 shares in the last quarter. Northern Trust Corp increased its holdings in shares of NU by 45.1% during the fourth quarter. Northern Trust Corp now owns 25,496,091 shares of the company’s stock worth $264,140,000 after buying an additional 7,930,598 shares in the last quarter. Ribbit Management Company LLC lifted its stake in shares of NU by 22.1% in the 4th quarter. Ribbit Management Company LLC now owns 25,243,753 shares of the company’s stock valued at $261,525,000 after acquiring an additional 4,575,000 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of NU by 6.2% in the 4th quarter. Nuveen Asset Management LLC now owns 24,378,076 shares of the company’s stock valued at $252,557,000 after acquiring an additional 1,417,910 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.

NU Stock Performance

Shares of NU opened at $12.84 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $61.87 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07. The firm’s fifty day simple moving average is $12.66 and its two-hundred day simple moving average is $11.92. Nu Holdings Ltd. has a 12 month low of $9.01 and a 12 month high of $16.15.

NU (NYSE:NU) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.09 billion. NU had a net margin of 17.88% and a return on equity of 30.77%. During the same period last year, the company posted $0.09 EPS. As a group, analysts predict that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

NU has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating on shares of NU in a research note on Friday, June 13th. Barclays increased their price target on NU from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Susquehanna increased their price objective on NU from $14.00 to $15.00 and gave the company a “positive” rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. increased their price objective on NU from $14.50 to $16.00 and gave the company an “overweight” rating in a report on Monday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

NU Company 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.