Cullen Capital Management LLC acquired a new stake in shares of Nu Holdings Ltd. (NYSE:NU – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 162,115 shares of the company’s stock, valued at approximately $2,166,000.
Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its holdings in NU by 14,810.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock worth $25,000 after buying an additional 1,481 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake 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 acquiring an additional 1,580 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in NU in the fourth quarter valued at approximately $27,000. Morse Asset Management Inc acquired a new stake in NU in the fourth quarter valued at approximately $31,000. Finally, Fifth Third Bancorp grew its position in NU by 433.0% in the fourth quarter. Fifth Third Bancorp now owns 1,988 shares of the company’s stock worth $33,000 after acquiring an additional 1,615 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.
NU Price Performance
NYSE NU opened at $14.74 on Tuesday. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $71.60 billion, a PE ratio of 19.93, a P/E/G ratio of 0.57 and a beta of 0.94. The stock has a 50-day simple moving average of $13.82 and a 200 day simple moving average of $14.19.
NU announced that its Board of Directors has authorized a stock repurchase plan 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. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
Insider Transactions at NU
In related news, CEO Cristina Helena Zing Junqueira sold 50,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $15.80, for a total transaction of $790,000.00. Following the transaction, the chief executive officer directly owned 4,927,593 shares in the company, valued at $77,855,969.40. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $15.81, for a total value of $3,505,187.67. Following the completion of the transaction, the insider owned 979,446 shares of the company’s stock, valued at $15,485,041.26. The trade was a 18.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. UBS Group increased their price target on shares of NU from $16.90 to $18.20 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings cut shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. Scotiabank cut shares of NU to a “sector perform” rating and set a $13.00 price objective for the company. in a report on Wednesday, June 3rd. Susquehanna increased their target price on shares of NU from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Finally, Needham & Company LLC raised their target price on NU from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, August 14th. Eight research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.02.
Check Out Our Latest Analysis on NU
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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