NU (NYSE:NU – Get Free Report) was downgraded by research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a report issued on Wednesday. They presently have a $13.00 target price on the stock. Susquehanna’s price target suggests a potential upside of 9.30% from the stock’s previous close.
NU has been the subject of several other reports. Itau BBA Securities restated an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. Bank of America reissued an “underperform” rating on shares of NU in a research report on Tuesday. Weiss Ratings cut shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. UBS Group cut their price objective on shares of NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Finally, Zacks Research cut shares of NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.49.
Read Our Latest Research Report on NU
NU Trading Down 8.4%
NU (NYSE:NU – Get Free Report) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Analysts predict that NU will post 0.84 EPS for the current year.
Insider Buying and Selling
In other NU news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.81, for a total value of $4,443,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,312,338 shares of the company’s stock, valued at approximately $34,245,725.78. The trade was a 11.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction of $257,040.00. Following the sale, the director directly owned 162,150 shares in the company, valued at $1,984,716. The trade was a 11.47% decrease in their position. The SEC filing for this sale provides additional information.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of NU by 8.6% in the first quarter. Bank of America Corp DE now owns 45,966,932 shares of the company’s stock worth $660,545,000 after acquiring an additional 3,656,945 shares during the period. Edgestream Partners L.P. purchased a new position in shares of NU in the 1st quarter valued at about $4,532,000. Janus Henderson Group PLC raised its holdings in NU by 35.4% in the 1st quarter. Janus Henderson Group PLC now owns 848,878 shares of the company’s stock worth $12,200,000 after purchasing an additional 221,985 shares during the period. Opal Capital LLC purchased a new position in NU during the first quarter worth approximately $3,869,000. Finally, EverSource Wealth Advisors LLC boosted its position in NU by 58.1% during the first quarter. EverSource Wealth Advisors LLC now owns 6,468 shares of the company’s stock worth $93,000 after purchasing an additional 2,377 shares in the last quarter. Hedge funds and other institutional investors own 84.02% 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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