Salem Investment Counselors Inc. Acquires 1,023 Shares of Nu Holdings Ltd. $NU

Salem Investment Counselors Inc. raised its position in shares of Nu Holdings Ltd. (NYSE:NU) by 0.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,282,236 shares of the company’s stock after buying an additional 1,023 shares during the quarter. NU comprises 1.0% of Salem Investment Counselors Inc.’s portfolio, making the stock its 20th biggest holding. Salem Investment Counselors Inc.’s holdings in NU were worth $31,312,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. grew its holdings in NU by 17.9% during the 1st quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company’s stock valued at $2,715,243,000 after buying an additional 40,181,132 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in NU by 24.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company’s stock valued at $557,422,000 after buying an additional 10,785,851 shares in the last quarter. Kontiki Capital Management HK Ltd. grew its holdings in NU by 54.3% during the 1st quarter. Kontiki Capital Management HK Ltd. now owns 32,575,725 shares of the company’s stock valued at $333,575,000 after buying an additional 11,465,700 shares in the last quarter. Northern Trust Corp grew its holdings in NU by 9.3% during the 1st quarter. Northern Trust Corp now owns 27,869,591 shares of the company’s stock valued at $285,385,000 after buying an additional 2,373,500 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in NU by 13.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,830,023 shares of the company’s stock valued at $223,539,000 after buying an additional 2,597,714 shares in the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Price Performance

NU opened at $15.70 on Friday. The business has a fifty day moving average of $13.50 and a 200 day moving average of $12.37. Nu Holdings Ltd. has a 52-week low of $9.01 and a 52-week high of $16.15. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.24. The stock has a market cap of $75.65 billion, a P/E ratio of 34.13, a PEG ratio of 0.81 and a beta of 1.07.

NU (NYSE:NU) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same quarter in the previous year, the business earned $0.12 EPS. As a group, sell-side analysts anticipate that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Analyst Ratings Changes

NU has been the subject of several research analyst reports. Bradesco Corretora upgraded NU to an “outperform” rating and set a $17.00 price target for the company in a report on Monday, August 25th. Bank of America lifted their target price on NU from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. JPMorgan Chase & Co. lifted their target price on NU from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Citigroup upgraded NU from a “sell” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $18.00 in a report on Wednesday, August 20th. Finally, Itau BBA Securities upgraded NU from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Monday, August 18th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.06.

NU Profile

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.