CIBC Asset Management Inc Increases Holdings in Nu Holdings Ltd. (NYSE:NU)

CIBC Asset Management Inc increased its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 47.2% during the third quarter, HoldingsChannel.com reports. The firm owned 147,810 shares of the company’s stock after buying an additional 47,417 shares during the period. CIBC Asset Management Inc’s holdings in NU were worth $2,018,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NU. Hamilton Lane Advisors LLC lifted its stake in NU by 97.8% in the 1st quarter. Hamilton Lane Advisors LLC now owns 500,791 shares of the company’s stock worth $5,974,000 after purchasing an additional 247,642 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in NU during the first quarter valued at $130,000. Orion Portfolio Solutions LLC boosted its stake in NU by 161.5% during the first quarter. Orion Portfolio Solutions LLC now owns 109,810 shares of the company’s stock valued at $1,310,000 after buying an additional 67,815 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in NU during the first quarter worth about $7,490,000. Finally, Vanguard Group Inc. increased its stake in NU by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 9,593,217 shares of the company’s stock worth $114,447,000 after acquiring an additional 343,114 shares during the last quarter. Institutional investors own 80.90% of the company’s stock.

NU Stock Performance

NYSE NU opened at $13.46 on Wednesday. The firm has a market cap of $64.13 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 0.64 and a beta of 1.13. The company has a 50-day simple moving average of $14.47 and a two-hundred day simple moving average of $13.27. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.20. Nu Holdings Ltd. has a 12-month low of $8.04 and a 12-month high of $16.15.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NU shares. KeyCorp boosted their price objective on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. UBS Group cut shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target for the company. in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Itau BBA Securities downgraded shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group increased 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. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NU currently has an average rating of “Moderate Buy” and an average price target of $16.21.

NU Company 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.