Connor Clark & Lunn Investment Management Ltd. Invests $164,000 in Nu Holdings Ltd. (NYSE:NU)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Nu Holdings Ltd. (NYSE:NU) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 12,011 shares of the company’s stock, valued at approximately $164,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. increased 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 period. American Century Companies Inc. increased its stake in NU by 73.1% during the 2nd quarter. American Century Companies Inc. now owns 17,237,693 shares of the company’s stock valued at $222,194,000 after buying an additional 7,279,458 shares during the period. Swiss National Bank bought a new stake in shares of NU during the 3rd quarter worth about $91,860,000. Jennison Associates LLC lifted its stake in shares of NU by 7.1% in the 3rd quarter. Jennison Associates LLC now owns 96,754,946 shares of the company’s stock worth $1,320,705,000 after acquiring an additional 6,435,526 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of NU by 83.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,839,210 shares of the company’s stock valued at $188,905,000 after acquiring an additional 6,313,657 shares in the last quarter. 80.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NU has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted 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. Itau BBA Securities lowered NU from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. KeyCorp lifted their target price on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Barclays upped their price target on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Susquehanna boosted their target price on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.21.

NU Price Performance

NU stock opened at $12.53 on Monday. Nu Holdings Ltd. has a one year low of $8.04 and a one year high of $16.15. The firm has a 50-day moving average of $14.28 and a two-hundred day moving average of $13.36. The firm has a market capitalization of $59.72 billion, a PE ratio of 34.81, a P/E/G ratio of 0.61 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.

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.