University of Texas Texas AM Investment Management Co. bought a new position in shares of Nu Holdings Ltd. (NYSE:NU – Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 65,513 shares of the company’s stock, valued at approximately $1,097,000.
Several other hedge funds have also recently modified their holdings of the business. Sowell Financial Services LLC increased its holdings in shares of NU by 4.8% during the fourth quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock valued at $217,000 after acquiring an additional 599 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of NU by 3.7% during the 4th quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock valued at $282,000 after buying an additional 601 shares during the last quarter. MBM Wealth Consultants LLC boosted its stake in shares of NU by 1.2% in the fourth quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock worth $842,000 after buying an additional 607 shares during the last quarter. Cornerstone Wealth Group LLC grew its holdings in NU by 1.2% during the fourth quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after acquiring an additional 621 shares during the period. Finally, Aptus Capital Advisors LLC boosted its position in NU by 3.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock worth $318,000 after purchasing an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.
Insider Buying and Selling
In other news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction on Friday, May 15th. The stock was sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the sale, the director directly owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of NU stock in a transaction dated Monday, March 23rd. The shares were 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. This represents a 11.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.
NU Trading Up 2.1%
NU (NYSE:NU – Get Free Report) last issued its 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 company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. Analysts predict that Nu Holdings Ltd. will post 0.84 EPS for the current fiscal 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 reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on NU shares. Bank of America reaffirmed an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. UBS Group decreased their price objective on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a research report on Wednesday, May 20th. CICC Research initiated coverage on NU in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price on the stock. Susquehanna lowered NU from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $13.00 in a report on Wednesday, June 3rd. Finally, Zacks Research downgraded NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.08.
About NU
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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