Factory Mutual Insurance Co. Purchases Shares of 147,832 Nu Holdings Ltd. $NU

Factory Mutual Insurance Co. acquired a new position in shares of Nu Holdings Ltd. (NYSE:NU) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 147,832 shares of the company’s stock, valued at approximately $2,367,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quaker Wealth Management LLC increased its position in shares of NU by 212.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock worth $32,000 after purchasing an additional 4,341 shares in the last quarter. Allworth Financial LP grew its stake in NU by 166.6% during the second quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock worth $35,000 after buying an additional 1,601 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of NU during the second quarter worth approximately $38,000. FNY Investment Advisers LLC increased its holdings in shares of NU by 334,100.0% during the second quarter. FNY Investment Advisers LLC now owns 3,342 shares of the company’s stock worth $45,000 after buying an additional 3,341 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of NU by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock valued at $52,000 after acquiring an additional 1,464 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NU. Susquehanna increased their price target on NU from $19.00 to $22.00 and gave the stock a “positive” rating in a research report on Tuesday, January 27th. JPMorgan Chase & Co. boosted their price objective on NU from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. KeyCorp increased their target price on NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Santander raised NU from a “neutral” rating to an “outperform” rating in a report on Thursday, December 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 price target on shares of NU in a research report on Thursday, December 18th. 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 company. Based on data from MarketBeat, NU has a consensus rating of “Moderate Buy” and a consensus target price of $18.34.

NU Price Performance

NU stock opened at $17.31 on Friday. The business’s 50-day simple moving average is $17.17 and its 200 day simple moving average is $15.94. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. The stock has a market cap of $83.41 billion, a price-to-earnings ratio of 33.94, a P/E/G ratio of 0.56 and a beta of 1.08. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $18.98.

NU 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.