Itau Unibanco Holding S.A. Increases Stock Holdings in Nu Holdings Ltd. (NYSE:NU)

Itau Unibanco Holding S.A. lifted its stake in Nu Holdings Ltd. (NYSE:NU) by 167.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,415,700 shares of the company’s stock after purchasing an additional 1,512,525 shares during the quarter. NU comprises 1.1% of Itau Unibanco Holding S.A.’s portfolio, making the stock its 26th biggest holding. Itau Unibanco Holding S.A. owned about 0.05% of NU worth $32,974,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC bought a new stake in shares of NU during the 3rd quarter worth approximately $98,704,000. Thrivent Financial for Lutherans lifted its stake in shares of NU by 23.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock worth $3,517,000 after acquiring an additional 48,445 shares during the last quarter. Adero Partners LLC raised its position in NU by 5.7% during the 3rd quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock valued at $65,784,000 after purchasing an additional 259,324 shares in the last quarter. Summit Partners Public Asset Management LLC raised its position in NU by 20.0% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company’s stock valued at $4,095,000 after purchasing an additional 50,000 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in NU during the 3rd quarter valued at $15,829,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America lifted their target price on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Itau BBA Securities lowered NU from an “outperform” rating to a “market perform” rating in a research 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. The Goldman Sachs Group boosted 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, KeyCorp boosted their price target on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NU presently has an average rating of “Hold” and an average price target of $15.63.

NU Stock Down 4.2 %

Shares of NU opened at $12.00 on Tuesday. Nu Holdings Ltd. has a 52 week low of $8.06 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 company has a market capitalization of $57.19 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 0.61 and a beta of 0.99. The stock’s 50-day moving average price is $14.28 and its 200-day moving average price is $13.37.

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.