Principal Financial Group Inc. raised its holdings in shares of Nu Holdings Ltd. (NYSE:NU – Free Report) by 115.6% during the 1st quarter, HoldingsChannel reports. The fund owned 149,290 shares of the company’s stock after purchasing an additional 80,034 shares during the period. Principal Financial Group Inc.’s holdings in NU were worth $2,145,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. LOM Asset Management Ltd purchased a new stake in shares of NU in the fourth quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd grew its position in 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 valued at $25,000 after purchasing an additional 1,481 shares in the last quarter. Cornerstone Planning Group LLC grew its position in NU by 5,448.3% during 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 in the last quarter. Zions Bancorporation National Association UT acquired a new position in NU in the 4th quarter valued at approximately $27,000. Finally, Morse Asset Management Inc acquired a new position 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 Trading Up 3.4%
NYSE:NU opened at $14.52 on Friday. The company has a market capitalization of $70.50 billion, a P/E ratio of 22.34, a P/E/G ratio of 0.56 and a beta of 0.95. The stock’s 50 day moving average price is $13.16 and its 200 day moving average price is $14.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. Nu Holdings Ltd. has a 52 week low of $11.20 and a 52 week high of $18.98.
NU declared that its board has approved a stock buyback program on Thursday, June 4th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Analysts Set New Price Targets
NU has been the subject of a number of research reports. CICC Research began coverage on shares of NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price for the company. Susquehanna downgraded shares of NU from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $13.00 in a research note on Wednesday, June 3rd. Needham & Company LLC initiated coverage on NU in a report on Friday, June 26th. They set a “buy” rating and a $17.00 price objective for the company. Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Finally, Bank of America reissued an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NU presently has a consensus rating of “Moderate Buy” and an average price target of $17.24.
Check Out Our Latest Stock Analysis on NU
Insider Buying and Selling at NU
In other news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction on 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 owned 162,150 shares in the company, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.
NU Company 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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