Pictet Asset Management Holding SA lowered its position in shares of Nu Holdings Ltd. (NYSE:NU – Free Report) by 5.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,495,568 shares of the company’s stock after selling 250,368 shares during the period. Pictet Asset Management Holding SA’s holdings in NU were worth $64,568,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sowell Financial Services LLC lifted its stake in NU by 4.8% in the 4th quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock worth $217,000 after purchasing an additional 599 shares in the last quarter. Parallel Advisors LLC grew its position 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 purchasing an additional 601 shares in the last quarter. MBM Wealth Consultants LLC increased its holdings 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 purchasing an additional 607 shares during the period. Cornerstone Wealth Group LLC increased its holdings in shares of NU by 1.2% in the fourth quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after purchasing an additional 621 shares during the period. Finally, Aptus Capital Advisors LLC raised its position in shares of NU by 3.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock worth $318,000 after buying an additional 624 shares in the last quarter. Institutional investors own 84.02% of the company’s stock.
Wall Street Analyst Weigh In
NU has been the subject of several research analyst reports. Itau BBA Securities reissued an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. UBS Group lowered their price target on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Scotiabank cut NU to a “sector perform” rating and set a $13.00 price target on the stock. in a report on Wednesday, June 3rd. CICC Research initiated coverage on NU in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target for the company. Finally, Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, NU currently has a consensus rating of “Moderate Buy” and an average price target of $17.07.
NU Trading Down 0.6%
Shares of NU stock opened at $13.10 on Tuesday. The business has a 50-day moving average price of $13.14 and a two-hundred day moving average price of $15.05. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The firm has a market cap of $63.59 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 0.53 and a beta of 0.95.
NU (NYSE:NU – Get Free Report) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.19 EPS 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 business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. Equities analysts anticipate that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.
NU declared that its board has approved a stock buyback program on Thursday, June 4th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling
In other NU news, Director Anita M. Sands sold 21,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were 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 $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
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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