Pictet Asset Management Holding SA Increases Stock Position in Nu Holdings Ltd. (NYSE:NU)

Pictet Asset Management Holding SA boosted its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 39.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,791,418 shares of the company’s stock after acquiring an additional 1,071,368 shares during the period. Pictet Asset Management Holding SA’s holdings in NU were worth $39,279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in NU in the fourth quarter valued at about $447,762,000. State Street Corp grew its position in shares of NU by 105.9% in the 3rd quarter. State Street Corp now owns 78,865,138 shares of the company’s stock worth $1,076,509,000 after buying an additional 40,560,986 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of NU by 104.3% during the 3rd quarter. Geode Capital Management LLC now owns 32,597,803 shares of the company’s stock worth $442,935,000 after acquiring an additional 16,638,397 shares in the last quarter. Baillie Gifford & Co. boosted its stake in NU by 7.1% in the fourth quarter. Baillie Gifford & Co. now owns 224,979,342 shares of the company’s stock valued at $2,330,786,000 after acquiring an additional 14,875,891 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in NU by 458.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,147,349 shares of the company’s stock valued at $193,111,000 after buying an additional 11,613,191 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

NU Trading Down 6.8 %

Shares of NYSE:NU opened at $10.34 on Monday. The company has a market capitalization of $49.26 billion, a PE ratio of 25.84, a PEG ratio of 0.48 and a beta of 1.14. Nu Holdings Ltd. has a 12-month low of $9.67 and a 12-month high of $16.15. The business has a 50 day moving average of $12.04 and a two-hundred day moving average of $12.75. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20.

NU (NYSE:NU) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. NU had a net margin of 17.12% and a return on equity of 30.99%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.17 billion. As a group, analysts forecast that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

NU has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of NU from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. UBS Group cut their price target on shares of NU from $15.50 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Barclays lowered their price objective on shares of NU from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, Citigroup lowered NU from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $14.60 to $11.00 in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.47.

NU 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.