Mirae Asset Global Investments Co. Ltd. acquired a new stake in Nu Holdings Ltd. (NYSE:NU – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 145,787 shares of the company’s stock, valued at approximately $1,846,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. GK Wealth Management LLC purchased a new stake in NU during the 3rd quarter worth approximately $31,000. Harbor Investment Advisory LLC grew its holdings in NU by 68.2% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,010 shares of the company’s stock valued at $40,000 after buying an additional 1,220 shares in the last quarter. Whipplewood Advisors LLC increased its position in NU by 1,584.0% during the first quarter. Whipplewood Advisors LLC now owns 5,052 shares of the company’s stock worth $73,000 after purchasing an additional 4,752 shares during the last quarter. Ancora Advisors LLC acquired a new stake in shares of NU during the 2nd quarter worth approximately $76,000. Finally, TD Waterhouse Canada Inc. increased its stake in NU by 48.7% during the third quarter. TD Waterhouse Canada Inc. now owns 6,755 shares of the company’s stock worth $90,000 after acquiring an additional 2,213 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.
NU Stock Up 2.3%
Shares of NU stock opened at $12.01 on Friday. 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 company has a market cap of $58.31 billion, a P/E ratio of 16.23, a PEG ratio of 0.50 and a beta of 0.97. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The firm has a fifty day moving average of $14.01 and a two-hundred day moving average of $14.36.
NU (NYSE:NU – Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 earnings per share for the quarter. The company had revenue of $5.88 billion for the quarter. NU had a return on equity of 31.59% and a net margin of 18.65%. On average, analysts forecast that Nu Holdings Ltd. will post 0.85 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of NU from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. Itau BBA Securities downgraded NU from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $20.00 to $18.00 in a report on Wednesday, September 16th. Wolfe Research reduced their price objective on shares of NU from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Rothschild & Co Redburn set a $19.00 target price on NU in a research report on Monday, September 28th. Finally, Weiss Ratings lowered shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.25.
Check Out Our Latest Analysis on NU
Insiders Place Their Bets
In other NU news, CEO Cristina Junqueira sold 65,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total value of $956,150.00. Following the completion of the transaction, the chief executive officer owned 2,542,083 shares in the company, valued at approximately $37,394,040.93. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the firm’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 sale, the insider directly owned 979,446 shares of the company’s stock, valued at approximately $15,485,041.26. This trade represents a 18.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 386,707 shares of company stock worth $6,001,588 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.
NU Profile
Nu Holdings Ltd., which operates under the Nubank brand, is a digital financial services company founded in Brazil in 2013. It provides banking and related services through mobile apps and other digital channels, with a focus on simplifying access to financial products.
Its offerings include digital accounts, payment cards, credit products, personal loans, and investment services. The company also provides services to small businesses, with products and availability varying by country.
Nu serves customers in Brazil, Mexico, and Colombia.
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