Pictet Asset Management SA Acquires 5,730 Shares of Nu Holdings Ltd. (NYSE:NU)

Pictet Asset Management SA boosted its holdings in Nu Holdings Ltd. (NYSE:NU – Get Rating) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,228,711 shares of the company’s stock after acquiring an additional 5,730 shares during the quarter. Pictet Asset Management SA’s holdings in NU were worth $5,406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of NU during the 2nd quarter valued at $42,000. Resources Investment Advisors LLC. bought a new position in shares of NU during the 3rd quarter valued at $44,000. Orion Portfolio Solutions LLC bought a new position in shares of NU during the 3rd quarter valued at $44,000. Private Advisory Group LLC bought a new position in shares of NU during the 2nd quarter valued at $51,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of NU during the 3rd quarter valued at $56,000. 47.64% of the stock is owned by institutional investors.

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NU Trading Up 1.0 %

Shares of NU stock opened at $4.94 on Friday. Nu Holdings Ltd. has a 52-week low of $3.26 and a 52-week high of $8.48. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $4.25 and a two-hundred day simple moving average of $4.49.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NU. JPMorgan Chase & Co. raised NU from an “underweight” rating to a “neutral” rating in a report on Thursday, December 8th. Credit Suisse Group initiated coverage on NU in a research note on Wednesday, November 9th. They issued an “outperform” rating and a $6.50 price objective for the company. Wolfe Research reduced their price objective on NU from $6.50 to $5.00 in a research note on Thursday, January 5th. KeyCorp upped their price objective on NU from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Thursday, February 9th. Finally, The Goldman Sachs Group reduced their price objective on NU from $11.00 to $9.50 and set a “buy” rating for the company in a research note on Tuesday, December 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.00.

NU Company Profile

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Nu Holdings Ltd. operates as a digital financial services platform and technology company primarily in Brazil, Mexico, and Colombia. 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.

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