Mirae Asset Global Investments Co. Ltd. Increases Stake in Nu Holdings Ltd. (NYSE:NU)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 40.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 611,342 shares of the company’s stock after purchasing an additional 175,579 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NU were worth $6,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NU. Piscataqua Savings Bank increased its position in shares of NU by 500.0% during the fourth quarter. Piscataqua Savings Bank now owns 3,000 shares of the company’s stock worth $31,000 after acquiring an additional 2,500 shares during the period. Carolina Wealth Advisors LLC purchased a new stake in shares of NU in the 3rd quarter worth $44,000. Toth Financial Advisory Corp purchased a new position in shares of NU during the third quarter valued at $55,000. GAMMA Investing LLC lifted its stake in NU by 81.9% in the third quarter. GAMMA Investing LLC now owns 4,119 shares of the company’s stock worth $56,000 after acquiring an additional 1,855 shares during the period. Finally, Huntington National Bank grew its holdings in NU by 86.3% during the 3rd quarter. Huntington National Bank now owns 4,601 shares of the company’s stock worth $63,000 after acquiring an additional 2,131 shares in the last quarter. 84.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NU has been the topic of several research reports. The Goldman Sachs Group lifted their price objective on shares of NU from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Susquehanna boosted their price target on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Citigroup downgraded NU from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $14.60 to $11.00 in a research report on Monday, December 2nd. KeyCorp boosted their target price on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Itau BBA Securities downgraded shares of NU from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, NU has an average rating of “Hold” and a consensus target price of $15.63.

NU Stock Down 0.3 %

NU stock opened at $13.75 on Friday. The company has a market capitalization of $65.51 billion, a P/E ratio of 38.18, a price-to-earnings-growth ratio of 0.47 and a beta of 1.10. Nu Holdings Ltd. has a 12 month low of $9.44 and a 12 month high of $16.15. The firm’s fifty day simple moving average is $11.64 and its 200-day simple moving average is $13.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44.

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.