Lazard Asset Management LLC grew its position in shares of Nu Holdings Ltd. (NYSE:NU – Free Report) by 55.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,748,533 shares of the company’s stock after buying an additional 976,963 shares during the quarter. Lazard Asset Management LLC’s holdings in NU were worth $39,496,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in NU. LOM Asset Management Ltd acquired a new stake in shares of NU in the 4th quarter worth $25,000. Caitong International Asset Management Co. Ltd increased its stake in shares of NU by 14,810.0% during the fourth 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. Cornerstone Planning Group LLC lifted its position in NU by 5,448.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock valued at $27,000 after purchasing an additional 1,580 shares during the period. Zions Bancorporation National Association UT acquired a new stake in NU in the fourth quarter valued at about $27,000. Finally, Morse Asset Management Inc purchased a new stake in NU in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 84.02% of the company’s stock.
NU Price Performance
NYSE:NU opened at $14.71 on Wednesday. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The firm has a market cap of $71.43 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 0.58 and a beta of 0.95. The company’s 50-day moving average is $13.11 and its two-hundred day moving average is $14.63. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36.
NU declared that its Board of Directors has authorized a share buyback plan on Thursday, June 4th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Insider Activity at NU
In other news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction of $257,040.00. Following the transaction, the director directly owned 162,150 shares in the company, valued at $1,984,716. This represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Analyst Ratings Changes
A number of research firms recently weighed in on NU. CICC Research began coverage on NU in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target on the stock. UBS Group lowered their price target on shares of NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Weiss Ratings cut shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. Finally, Bank of America restated an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, NU currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.24.
About NU
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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