Wasatch Advisors LP cut its position in shares of Nu Holdings Ltd. (NYSE:NU – Free Report) by 7.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,273,997 shares of the company’s stock after selling 777,559 shares during the period. Wasatch Advisors LP’s holdings in NU were worth $123,901,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in NU in the fourth quarter valued at $763,792,000. Larch Capital Partners LLC acquired a new position in shares of NU during the 4th quarter worth $605,829,000. Jennison Associates LLC raised its stake in shares of NU by 82.6% during the 4th quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock worth $659,067,000 after buying an additional 17,809,644 shares during the last quarter. Squadra Investments Gestao DE Recursos LTDA. boosted its position in shares of 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 worth $320,631,000 after buying an additional 16,229,515 shares in the last quarter. Finally, Atmos Capital Gestao DE Recursos LTDA. boosted its position in shares of NU by 109.1% in the 4th quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 29,813,810 shares of the company’s stock worth $499,083,000 after buying an additional 15,552,726 shares in the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.
NU Trading Down 1.5%
Shares of NU stock opened at $13.65 on Wednesday. The company has a market capitalization of $66.27 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 0.55 and a beta of 0.94. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $13.37 and a 200 day moving average price of $14.43. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98.
NU announced that its board has approved a stock repurchase 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. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Analyst Ratings Changes
NU has been the subject of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of NU from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings downgraded shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Bank of America reaffirmed an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. 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 report on Wednesday, May 20th. Finally, CICC Research started coverage on shares of NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.24.
Get Our Latest Stock Report on NU
Insider Activity
In related news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 162,150 shares in the company, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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.
Read More
- Five stocks we like better than NU
- Atlassian Just Pulled Off the Software Comeback Wall Street Wanted
- AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be
- NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings
- Apple’s Next iPhone Could Test How Much Pricing Power Is Left
Want to see what other hedge funds are holding NU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nu Holdings Ltd. (NYSE:NU – Free Report).
Receive News & Ratings for NU Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NU and related companies with MarketBeat.com's FREE daily email newsletter.
