Assenagon Asset Management S.A. Buys 11,488,794 Shares of Nu Holdings Ltd. $NU

Assenagon Asset Management S.A. lifted its stake in Nu Holdings Ltd. (NYSE:NU) by 71.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,590,473 shares of the company’s stock after buying an additional 11,488,794 shares during the period. NU makes up approximately 0.6% of Assenagon Asset Management S.A.’s holdings, making the stock its 25th largest holding. Assenagon Asset Management S.A. owned about 0.57% of NU worth $461,865,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB increased its stake in NU by 22.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,394 shares of the company’s stock worth $74,000 after purchasing an additional 802 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of NU by 1.8% during the third quarter. Verdence Capital Advisors LLC now owns 44,508 shares of the company’s stock valued at $712,000 after purchasing an additional 804 shares during the period. Canvas Wealth Advisors LLC grew its holdings in shares of NU by 4.9% in the third quarter. Canvas Wealth Advisors LLC now owns 19,087 shares of the company’s stock worth $292,000 after purchasing an additional 900 shares during the last quarter. Covestor Ltd increased its stake in shares of NU by 8.2% in the third quarter. Covestor Ltd now owns 12,194 shares of the company’s stock worth $195,000 after buying an additional 919 shares during the period. Finally, Allworth Financial LP increased its stake in shares of NU by 36.1% in the third quarter. Allworth Financial LP now owns 3,488 shares of the company’s stock worth $56,000 after buying an additional 926 shares during the period. Institutional investors own 84.02% of the company’s stock.

Analyst Upgrades and Downgrades

NU has been the subject of several analyst reports. Susquehanna increased their price target on shares of NU from $19.00 to $22.00 and gave the company a “positive” rating in a research report on Tuesday, January 27th. Itau BBA Securities restated an “outperform” rating on shares of NU in a research report on Tuesday, March 17th. Zacks Research raised shares of NU from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Bank of America reiterated a “neutral” rating on shares of NU in a report on Monday, March 9th. Finally, UBS Group raised NU from a “neutral” rating to a “buy” rating and raised their target price for the stock from $17.20 to $17.60 in a research note on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $18.26.

NU Price Performance

Shares of NU stock opened at $14.67 on Tuesday. The business has a 50 day moving average of $16.31 and a 200 day moving average of $16.21. Nu Holdings Ltd. has a 52 week low of $9.01 and a 52 week high of $18.98. The company has a market cap of $70.67 billion, a PE ratio of 25.29, a P/E/G ratio of 0.54 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.39.

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

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.