Fred Alger Management LLC Grows Stake in Nu Holdings Ltd. (NYSE:NU)

Fred Alger Management LLC raised its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 56.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 667,161 shares of the company’s stock after purchasing an additional 241,685 shares during the period. Fred Alger Management LLC’s holdings in NU were worth $9,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in shares of NU by 13.0% during the third quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company’s stock valued at $2,867,912,000 after buying an additional 24,140,416 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 purchasing an additional 11,613,191 shares during the period. FMR LLC raised its stake in shares of NU by 16.4% in the third quarter. FMR LLC now owns 61,801,891 shares of the company’s stock worth $843,596,000 after purchasing an additional 8,728,833 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of NU by 73.1% during the second quarter. American Century Companies Inc. now owns 17,237,693 shares of the company’s stock worth $222,194,000 after purchasing an additional 7,279,458 shares during the period. Finally, Fisher Asset Management LLC purchased a new stake in NU in the third quarter valued at approximately $98,704,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NU. Susquehanna raised their price target on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. KeyCorp boosted their target price on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group increased their price target on NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, UBS Group cut NU from a “buy” rating to a “neutral” rating and set a $13.50 price objective for the company. in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, NU has an average rating of “Moderate Buy” and an average price target of $16.21.

NU Price Performance

NYSE:NU opened at $12.54 on Friday. The stock has a market capitalization of $59.76 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 0.66 and a beta of 1.13. Nu Holdings Ltd. has a 52 week low of $8.04 and a 52 week high of $16.15. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average price is $14.32 and its 200-day moving average price is $13.34.

NU 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.