Morse Asset Management Inc Invests $143,000 in Nu Holdings Ltd. (NYSE:NU)

Morse Asset Management Inc purchased a new position in Nu Holdings Ltd. (NYSE:NU) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,000 shares of the company’s stock, valued at approximately $143,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WCM Investment Management LLC increased its position in NU by 1,157.4% in the 1st quarter. WCM Investment Management LLC now owns 99,965,627 shares of the company’s stock worth $1,192,590,000 after buying an additional 92,015,719 shares during the period. Baillie Gifford & Co. boosted its holdings in NU by 47.6% in the 1st quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock valued at $2,021,540,000 after purchasing an additional 54,681,625 shares during the period. Sands Capital Management LLC grew its position in NU by 92.7% in the 4th quarter. Sands Capital Management LLC now owns 85,220,661 shares of the company’s stock worth $709,888,000 after purchasing an additional 40,992,413 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of NU by 160.9% during the 4th quarter. Jennison Associates LLC now owns 65,813,072 shares of the company’s stock worth $548,223,000 after purchasing an additional 40,584,189 shares during the period. Finally, Capital Research Global Investors lifted its position in shares of NU by 20.7% in the 4th quarter. Capital Research Global Investors now owns 175,197,344 shares of the company’s stock worth $1,459,403,000 after acquiring an additional 30,002,685 shares during the period. Institutional investors and hedge funds own 80.90% of the company’s stock.

Analyst Ratings Changes

NU has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of NU from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Jefferies Financial Group upped their price objective on shares of NU from $10.80 to $15.20 and gave the stock a “buy” rating in a research note on Monday, June 24th. KeyCorp boosted their target price on NU from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Barclays assumed coverage on NU in a report on Wednesday, June 26th. They set an “overweight” rating and a $15.00 price target for the company. Finally, Susquehanna increased their target price on NU from $14.00 to $16.00 and gave the stock a “positive” rating in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, NU has a consensus rating of “Moderate Buy” and an average price target of $12.98.

NU Trading Down 0.6 %

NU traded down $0.08 during mid-day trading on Monday, hitting $12.33. The stock had a trading volume of 9,972,600 shares, compared to its average volume of 28,614,154. The firm has a market capitalization of $58.76 billion, a price-to-earnings ratio of 48.04, a price-to-earnings-growth ratio of 0.58 and a beta of 1.14. Nu Holdings Ltd. has a 1-year low of $6.61 and a 1-year high of $13.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s fifty day simple moving average is $12.33 and its 200-day simple moving average is $11.34.

NU (NYSE:NU) last announced its earnings results on Tuesday, May 14th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.58 billion. NU had a net margin of 13.86% and a return on equity of 22.94%. As a group, research analysts forecast that Nu Holdings Ltd. will post 0.41 EPS for the current fiscal year.

NU Company Profile

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.