Coronation Fund Managers Ltd. Increases Stake in Nu Holdings Ltd. (NYSE:NU)

Coronation Fund Managers Ltd. lifted its position in shares of Nu Holdings Ltd. (NYSE:NU) by 108.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,336,821 shares of the company’s stock after purchasing an additional 4,849,519 shares during the period. NU accounts for approximately 5.7% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 5th largest position. Coronation Fund Managers Ltd.’s holdings in NU were worth $96,729,000 at the end of the most recent quarter.

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

NU Price Performance

Shares of NYSE:NU opened at $13.75 on Monday. The company has a market capitalization of $65.51 billion, a PE ratio of 38.18, a PEG ratio of 0.49 and a beta of 1.10. The business has a fifty day moving average price of $11.64 and a 200-day moving average price of $13.14. Nu Holdings Ltd. has a 1-year low of $9.44 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.

Analysts Set New Price Targets

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

About NU

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.