Jennison Associates LLC Acquires 6,435,526 Shares of Nu Holdings Ltd. (NYSE:NU)

Jennison Associates LLC grew its stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,754,946 shares of the company's stock after acquiring an additional 6,435,526 shares during the period. Jennison Associates LLC owned 2.03% of NU worth $1,320,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Segall Bryant & Hamill LLC purchased a new stake in NU in the third quarter worth about $446,000. Avior Wealth Management LLC grew its stake in shares of NU by 51.8% during the 3rd quarter. Avior Wealth Management LLC now owns 9,985 shares of the company's stock valued at $136,000 after acquiring an additional 3,409 shares during the period. PNC Financial Services Group Inc. grew its position in shares of NU by 7.7% during the third quarter. PNC Financial Services Group Inc. now owns 191,642 shares of the company's stock worth $2,616,000 after purchasing an additional 13,653 shares in the last quarter. Princeton Capital Management LLC bought a new position in shares of NU during the 3rd quarter valued at about $194,000. Finally, Caprock Group LLC grew its stake in shares of NU by 27.0% in the 3rd quarter. Caprock Group LLC now owns 14,815 shares of the company's stock worth $202,000 after buying an additional 3,152 shares in the last quarter. Institutional investors own 80.90% of the company's stock.

NU Trading Down 1.7 %

Shares of NU stock traded down $0.23 on Wednesday, hitting $13.23. 23,913,205 shares of the company's stock traded hands, compared to its average volume of 32,492,771. Nu Holdings Ltd. has a one year low of $8.04 and a one 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 market capitalization of $63.05 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 0.64 and a beta of 1.13. The firm's 50-day moving average price is $14.47 and its two-hundred day moving average price is $13.27.

Analysts Set New Price Targets

Several brokerages have recently commented on NU. JPMorgan Chase & Co. increased their price objective on NU from $14.50 to $15.00 and gave the company a "neutral" rating in a report on Monday, August 19th. The Goldman Sachs Group raised their price objective on shares of NU from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Bank of America increased their price target on shares of NU from $12.80 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. UBS Group cut NU from a "buy" rating to a "neutral" rating and set a $13.50 price objective for the company. in a research report on Friday, August 2nd. Finally, Susquehanna lifted their target price on shares of NU from $16.00 to $18.00 and gave the company a "positive" rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, NU has an average rating of "Moderate Buy" and a consensus target price of $16.21.

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.