KLP Kapitalforvaltning AS Increases Stock Holdings in Nu Holdings Ltd. $NU

KLP Kapitalforvaltning AS grew its position in Nu Holdings Ltd. (NYSE:NU) by 2.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 723,400 shares of the company’s stock after purchasing an additional 16,100 shares during the period. KLP Kapitalforvaltning AS’s holdings in NU were worth $9,925,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Armstrong Advisory Group Inc. purchased a new position in shares of NU in the second quarter valued at $27,000. ORG Partners LLC boosted its stake in shares of NU by 474.1% during the second quarter. ORG Partners LLC now owns 2,325 shares of the company’s stock valued at $32,000 after acquiring an additional 1,920 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of NU during the second quarter valued at $36,000. NBC Securities Inc. boosted its stake in shares of NU by 286,000.0% during the first quarter. NBC Securities Inc. now owns 2,861 shares of the company’s stock valued at $29,000 after acquiring an additional 2,860 shares during the last quarter. Finally, Capital Analysts LLC acquired a new stake in shares of NU during the first quarter valued at $31,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on NU shares. UBS Group increased their price objective on NU from $14.30 to $15.60 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Susquehanna increased their price objective on NU from $15.00 to $17.00 and gave the company a “positive” rating in a research note on Wednesday, August 27th. JPMorgan Chase & Co. increased their price objective on NU from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Bradesco Corretora raised NU to an “outperform” rating and set a $17.00 price objective on the stock in a research note on Monday, August 25th. Finally, Itau BBA Securities raised NU from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research note on Monday, August 18th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.06.

NU Stock Down 0.5%

Shares of NYSE:NU opened at $15.38 on Friday. The stock’s 50-day moving average price is $14.51 and its two-hundred day moving average price is $12.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24. Nu Holdings Ltd. has a 12-month low of $9.01 and a 12-month high of $16.42. The firm has a market cap of $74.11 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 0.81 and a beta of 1.08.

NU (NYSE:NU) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NU had a return on equity of 29.91% and a net margin of 17.90%.The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the company earned $0.12 EPS. On average, research analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current year.

About NU

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.