California State Teachers Retirement System increased its position in Nu Holdings Ltd. (NYSE:NU – Free Report) by 13.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,807,993 shares of the company’s stock after acquiring an additional 212,530 shares during the quarter. California State Teachers Retirement System’s holdings in NU were worth $25,981,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in NU during the 4th quarter worth approximately $763,792,000. Larch Capital Partners LLC acquired a new position in NU in the 4th quarter valued at approximately $605,829,000. Jennison Associates LLC increased its position in NU by 82.6% in the 4th quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock valued at $659,067,000 after acquiring an additional 17,809,644 shares during the period. Squadra Investments Gestao DE Recursos LTDA. increased its position in NU by 266.8% in the 1st quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company’s stock valued at $320,631,000 after acquiring an additional 16,229,515 shares during the period. Finally, Atmos Capital Gestao DE Recursos LTDA. raised its stake in shares of NU by 109.1% during the fourth quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 29,813,810 shares of the company’s stock valued at $499,083,000 after acquiring an additional 15,552,726 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.
Insiders Place Their Bets
In related news, Director Anita M. Sands sold 21,000 shares of NU 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 completion of the transaction, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.
NU Stock Down 1.0%
NU (NYSE:NU – Get Free Report) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share (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 firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. Equities analysts predict that Nu Holdings Ltd. will post 0.83 EPS for the current year.
NU announced that its Board of Directors has authorized a share buyback program on Thursday, June 4th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Analyst Ratings Changes
NU has been the topic of a number of recent research reports. Needham & Company LLC initiated coverage on shares of NU in a report on Friday, June 26th. They set a “buy” rating and a $17.00 price target on the stock. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price objective for the company. in a report on Wednesday, June 3rd. Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Bank of America reaffirmed an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. 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 equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.24.
Get Our Latest Stock Analysis on NU
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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