Lansforsakringar Fondforvaltning AB publ trimmed its position in Nu Holdings Ltd. (NYSE:NU – Free Report) by 9.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 671,385 shares of the company’s stock after selling 67,870 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in NU were worth $9,648,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of NU by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock valued at $52,000 after buying an additional 1,464 shares during the last quarter. Jump Financial LLC grew its stake in NU by 541.8% during the 2nd quarter. Jump Financial LLC now owns 185,434 shares of the company’s stock valued at $2,544,000 after acquiring an additional 156,539 shares in the last quarter. WINTON GROUP Ltd grew its stake in NU by 38.5% during the 2nd quarter. WINTON GROUP Ltd now owns 37,156 shares of the company’s stock valued at $510,000 after acquiring an additional 10,332 shares in the last quarter. AXA S.A. raised its holdings in NU by 1.4% in the 2nd quarter. AXA S.A. now owns 192,311 shares of the company’s stock valued at $2,639,000 after acquiring an additional 2,682 shares during the last quarter. Finally, Nebula Research & Development LLC lifted its stake in NU by 63.7% in the 2nd quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock worth $274,000 after purchasing an additional 7,760 shares in the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.
NU Stock Up 0.3%
NU stock opened at $13.39 on Thursday. The stock has a market cap of $65.04 billion, a PE ratio of 20.61, a P/E/G ratio of 0.53 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58. The stock’s fifty day moving average is $13.06 and its two-hundred day moving average is $15.01. Nu Holdings Ltd. has a 1-year low of $11.20 and a 1-year high of $18.98.
NU declared that its Board of Directors has authorized a share repurchase plan on Thursday, June 4th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the company. Susquehanna cut NU from a “positive” rating to a “neutral” rating and cut their price target for the company from $18.00 to $13.00 in a report on Wednesday, June 3rd. Bank of America restated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. UBS Group cut their target price on NU from $18.10 to $16.90 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Scotiabank cut shares of NU to a “sector perform” rating and set a $13.00 price target on the stock. in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC began coverage on shares of NU in a report on Friday, June 26th. They issued a “buy” rating and a $17.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, NU has a consensus rating of “Moderate Buy” and a consensus price target of $17.07.
Read Our Latest Research Report on NU
Insider Activity at NU
In related news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction dated 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 owned 162,150 shares in the company, valued at $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.
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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