Morse Asset Management Inc Purchases 25,436 Shares of Nu Holdings Ltd. (NYSE:NU)

Morse Asset Management Inc grew its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 74.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,786 shares of the company’s stock after buying an additional 25,436 shares during the period. Morse Asset Management Inc’s holdings in NU were worth $816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. lifted its holdings in shares of NU by 13.0% during the third quarter. Baillie Gifford & Co. now owns 210,103,451 shares of the company’s stock valued at $2,867,912,000 after purchasing an additional 24,140,416 shares during the last quarter. Jennison Associates LLC raised its stake in NU by 7.1% during the third quarter. Jennison Associates LLC now owns 96,754,946 shares of the company’s stock valued at $1,320,705,000 after buying an additional 6,435,526 shares during the last quarter. FMR LLC boosted its stake in NU by 16.4% in the 3rd quarter. FMR LLC now owns 61,801,891 shares of the company’s stock worth $843,596,000 after purchasing an additional 8,728,833 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in NU by 10.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 19,976,979 shares of the company’s stock valued at $272,686,000 after acquiring an additional 1,828,143 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of NU by 23.0% during the second quarter. Sei Investments Co. now owns 18,927,977 shares of the company’s stock valued at $243,982,000 after buying an additional 3,544,124 shares during the last quarter. 80.90% of the stock is owned by hedge funds and other institutional investors.

NU Stock Down 2.7 %

Shares of NYSE NU opened at $11.68 on Wednesday. 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 stock has a market capitalization of $55.64 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 0.58 and a beta of 0.99. Nu Holdings Ltd. has a 12-month low of $8.06 and a 12-month high of $16.15. The stock’s fifty day simple moving average is $14.23 and its two-hundred day simple moving average is $13.37.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America lifted their price objective on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. KeyCorp raised their price objective on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Citigroup downgraded shares of NU from a “neutral” rating to a “sell” rating and cut their price objective for the company from $14.60 to $11.00 in a research report on Monday. Finally, JPMorgan Chase & Co. raised their target price on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, NU has an average rating of “Hold” and an average target price of $15.63.

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.