Nu Holdings Ltd. (NYSE:NU) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Nu Holdings Ltd. (NYSE:NU - Free Report) by 315.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,153,464 shares of the company's stock after purchasing an additional 876,039 shares during the quarter. Principal Financial Group Inc.'s holdings in NU were worth $15,745,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NU. GAMMA Investing LLC lifted its stake in shares of NU by 56.2% in the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company's stock worth $29,000 after buying an additional 815 shares in the last quarter. Marcum Wealth LLC lifted its stake in shares of NU by 2.5% in the 3rd quarter. Marcum Wealth LLC now owns 37,221 shares of the company's stock worth $508,000 after purchasing an additional 903 shares during the period. Fortis Capital Management LLC grew its position in NU by 6.6% during the second quarter. Fortis Capital Management LLC now owns 17,330 shares of the company's stock valued at $223,000 after buying an additional 1,072 shares during the period. Americana Partners LLC increased its stake in shares of NU by 7.8% in the 2nd quarter. Americana Partners LLC now owns 15,449 shares of the company's stock worth $199,000 after purchasing an additional 1,115 shares in the last quarter. Finally, Gateway Advisory LLC increased its holdings in NU by 2.1% in the 2nd quarter. Gateway Advisory LLC now owns 69,255 shares of the company's stock worth $893,000 after acquiring an additional 1,419 shares in the last quarter. 80.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NU has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of NU from $14.50 to $15.00 and gave the company a "neutral" rating in a research note on Monday, August 19th. KeyCorp lifted their target price on NU from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday. Bank of America increased their price target on NU from $12.80 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. UBS Group downgraded NU from a "buy" rating to a "neutral" rating and set a $13.50 price objective on the stock. in a research note on Friday, August 2nd. Finally, Susquehanna boosted their price target on shares of NU from $16.00 to $18.00 and gave the stock a "positive" rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, NU currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.21.

NU Stock Down 7.5 %

NU stock opened at $14.06 on Friday. Nu Holdings Ltd. has a 12 month low of $7.74 and a 12 month high of $16.15. The stock has a market capitalization of $66.99 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 0.71 and a beta of 1.13. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. The business has a 50 day simple moving average of $14.48 and a 200-day simple moving average of $13.21.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. NU had a net margin of 16.28% and a return on equity of 29.70%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. On average, analysts anticipate that Nu Holdings Ltd. will post 0.41 EPS for the current fiscal year.

About NU

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.