Maverick Capital Ltd. boosted its position in Nu Holdings Ltd. (NYSE:NU – Free Report) by 91.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,444,311 shares of the company’s stock after acquiring an additional 10,729,747 shares during the period. NU accounts for about 3.7% of Maverick Capital Ltd.’s holdings, making the stock its 6th biggest position. Maverick Capital Ltd. owned approximately 0.46% of NU worth $322,525,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in NU. Sowell Financial Services LLC raised its position in NU by 4.8% in the 4th quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock valued at $217,000 after buying an additional 599 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of NU by 3.7% during the 4th quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock worth $282,000 after acquiring an additional 601 shares during the period. MBM Wealth Consultants LLC increased its stake in shares of NU by 1.2% in the fourth quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock worth $842,000 after purchasing an additional 607 shares in the last quarter. Cornerstone Wealth Group LLC grew its stake in NU by 1.2% in the 4th quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock valued at $866,000 after buying an additional 621 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its position in shares of NU by 3.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock valued at $318,000 after purchasing an additional 624 shares in the last quarter. 84.02% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
NU has been the topic of a number of analyst reports. Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Bank of America reissued an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Susquehanna downgraded shares of NU from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $13.00 in a research note on Wednesday, June 3rd. CICC Research assumed coverage on shares of NU in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, NU currently has an average rating of “Moderate Buy” and an average price target of $17.24.
NU Stock Performance
Shares of NU opened at $14.49 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $13.06 and its 200-day moving average price is $14.65. Nu Holdings Ltd. has a 52 week low of $11.20 and a 52 week high of $18.98. The stock has a market cap of $70.34 billion, a P/E ratio of 22.29, a P/E/G ratio of 0.56 and a beta of 0.95.
NU (NYSE:NU – Get Free Report) last released its earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Equities research analysts anticipate that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.
NU declared that its board has authorized a stock buyback plan on Thursday, June 4th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Insider Activity
In related news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction on Friday, May 15th. The stock was 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 $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 is available at this link.
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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