Coronation Fund Managers Ltd. Has $237.85 Million Stake in Nu Holdings Ltd. $NU

Coronation Fund Managers Ltd. cut its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 7.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,856,027 shares of the company’s stock after selling 1,157,730 shares during the quarter. NU accounts for about 12.4% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its largest holding. Coronation Fund Managers Ltd. owned approximately 0.31% of NU worth $237,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NU. State Street Corp boosted its stake in shares of NU by 2.4% during the second quarter. State Street Corp now owns 91,238,735 shares of the company’s stock valued at $1,251,795,000 after purchasing an additional 2,158,037 shares during the period. WCM Investment Management LLC raised its holdings in NU by 0.9% during the 3rd quarter. WCM Investment Management LLC now owns 74,478,698 shares of the company’s stock valued at $1,187,935,000 after buying an additional 659,526 shares during the last quarter. Sands Capital Management LLC boosted its position in NU by 5.9% during the 2nd quarter. Sands Capital Management LLC now owns 54,504,428 shares of the company’s stock valued at $747,801,000 after buying an additional 3,060,463 shares during the period. Norges Bank bought a new stake in NU in the 2nd quarter worth $626,569,000. Finally, Jennison Associates LLC increased its position in shares of NU by 38.1% in the second quarter. Jennison Associates LLC now owns 41,962,679 shares of the company’s stock valued at $575,728,000 after acquiring an additional 11,567,865 shares during the period. 84.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on NU. Santander raised NU from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 4th. Zacks Research upgraded NU from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. UBS Group boosted their target price on NU from $16.00 to $18.40 and gave the company a “neutral” rating in a research note on Thursday, December 4th. JPMorgan Chase & Co. raised their price target on NU from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Finally, Susquehanna boosted 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. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.34.

NU Price Performance

Shares of NU opened at $16.83 on Friday. Nu Holdings Ltd. has a fifty-two week low of $9.01 and a fifty-two week high of $18.98. The firm’s 50-day simple moving average is $17.14 and its two-hundred day simple moving average is $15.83. The stock has a market cap of $81.12 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 0.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56.

NU (NYSE:NU) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. NU had a return on equity of 30.12% and a net margin of 17.97%.The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Analysts anticipate that Nu Holdings Ltd. will post 0.58 earnings per share for the current fiscal year.

About NU

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.