Circle Wealth Management LLC Increases Stock Position in Nu Holdings Ltd. (NYSE:NU)

Circle Wealth Management LLC lifted its stake in Nu Holdings Ltd. (NYSE:NU) by 143.3% in the third quarter, Holdings Channel.com reports. The fund owned 104,068 shares of the company’s stock after purchasing an additional 61,288 shares during the period. Circle Wealth Management LLC’s holdings in NU were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC purchased a new stake in shares of NU in the third quarter worth $98,704,000. Thrivent Financial for Lutherans grew its holdings in shares of NU by 23.2% during the third quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock worth $3,517,000 after purchasing an additional 48,445 shares in the last quarter. Adero Partners LLC increased its position 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 purchasing an additional 259,324 shares during the last quarter. Summit Partners Public Asset Management LLC raised its stake in NU by 20.0% in the third 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, Aigen Investment Management LP bought a new stake in NU during the third quarter valued at approximately $814,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.

Wall Street Analysts Forecast Growth

NU has been the topic of several research reports. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Susquehanna lifted their price target on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Barclays increased their price objective on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their target price on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Bank of America boosted their price objective on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.21.

NU Stock Performance

NU stock opened at $12.54 on Friday. Nu Holdings Ltd. has a 1-year low of $8.04 and a 1-year high of $16.15. The firm has a market cap of $59.76 billion, a P/E ratio of 34.83, a P/E/G ratio of 0.66 and a beta of 1.13. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $14.32 and a 200-day moving average of $13.34.

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.