Focus Partners Wealth raised its stake in Nu Holdings Ltd. (NYSE:NU – Free Report) by 39.2% in the fourth quarter, Holdings Channel reports. The firm owned 6,205,330 shares of the company’s stock after acquiring an additional 1,748,586 shares during the quarter. Focus Partners Wealth’s holdings in NU were worth $103,877,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of NU by 14,810.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock worth $25,000 after acquiring an additional 1,481 shares during the period. LOM Asset Management Ltd bought a new position in shares of NU during the 4th quarter worth approximately $25,000. Zions Bancorporation National Association UT bought a new position in shares of NU during the 4th quarter worth approximately $27,000. Cornerstone Planning Group LLC boosted its stake in shares of NU by 5,448.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock worth $27,000 after acquiring an additional 1,580 shares during the period. Finally, Morse Asset Management Inc bought a new position in shares of NU during the 4th quarter worth approximately $31,000. 84.02% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
NU has been the subject of several research analyst reports. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 target price for the company. in a research note on Wednesday, June 3rd. Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Citigroup cut shares of NU from a “sell” rating to a “neutral” rating in a research note on Monday. Bank of America restated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Finally, Susquehanna cut shares of NU from a “positive” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $13.00 in a research note on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.08.
Insider Transactions at NU
In other news, Director Anita M. Sands sold 21,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the sale, the director owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $14.81, for a total transaction of $4,443,000.00. Following the completion of the sale, the chief executive officer directly owned 2,312,338 shares of the company’s stock, valued at approximately $34,245,725.78. The trade was a 11.48% decrease in their position. The SEC filing for this sale provides additional information.
NU Stock Performance
NU opened at $12.16 on Monday. The business has a fifty day simple moving average of $13.58 and a 200 day simple moving average of $15.40. The company has a market capitalization of $59.06 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 0.49 and a beta of 0.95. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58.
NU (NYSE:NU – Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. Research analysts expect that Nu Holdings Ltd. will post 0.84 EPS for the current year.
NU announced that its Board of Directors has initiated a share buyback plan on Thursday, June 4th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
NU Profile
Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.
Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.
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