Morse Asset Management Inc Increases Stock Position in Nu Holdings Ltd. (NYSE:NU)

Morse Asset Management Inc increased its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 74.0% during the third quarter, Holdings Channel.com reports. The fund owned 59,786 shares of the company’s stock after buying an additional 25,436 shares during the period. Morse Asset Management Inc’s holdings in NU were worth $816,000 at the end of the most recent reporting period.

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

NU Stock Performance

NYSE NU opened at $11.68 on Wednesday. The company has a market cap of $55.64 billion, a P/E ratio of 32.43, a P/E/G ratio of 0.58 and a beta of 0.99. Nu Holdings Ltd. has a 1-year low of $8.06 and a 1-year high of $16.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a 50-day moving average of $14.23 and a two-hundred day moving average of $13.37.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group increased their price target on NU from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Itau BBA Securities lowered NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Bank of America lifted their price target on shares of NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Citigroup cut NU from a “neutral” rating to a “sell” rating and cut their target price for the stock from $14.60 to $11.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.63.

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.