Modern Wealth Management LLC acquired a new position in Nu Holdings Ltd. (NYSE:NU – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 39,903 shares of the company’s stock, valued at approximately $576,000.
Other large investors also recently bought and sold shares of the company. Maxi Investments CY Ltd lifted its holdings in NU by 85.5% in the 4th quarter. Maxi Investments CY Ltd now owns 783,000 shares of the company’s stock valued at $13,107,000 after purchasing an additional 361,000 shares in the last quarter. C WorldWide Group Holding A S grew its holdings in shares of NU by 1,045.3% during the fourth quarter. C WorldWide Group Holding A S now owns 311,792 shares of the company’s stock worth $5,219,000 after buying an additional 284,569 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of NU by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company’s stock worth $415,401,000 after buying an additional 1,037,438 shares in the last quarter. Genoa Capital Gestora de Recursos Ltda. acquired a new stake in shares of NU in the fourth quarter valued at about $3,869,000. Finally, Danske Bank A S raised its position in shares of NU by 515.0% in the fourth quarter. Danske Bank A S now owns 5,074,732 shares of the company’s stock valued at $84,951,000 after buying an additional 4,249,632 shares during the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
NU has been the topic of a number of recent research reports. Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price objective on shares of NU from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Needham & Company LLC assumed coverage on shares of NU in a research note on Friday, June 26th. They issued a “buy” rating and a $17.00 target price on the stock. Bank of America restated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Finally, Susquehanna lowered NU from a “positive” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NU presently has an average rating of “Moderate Buy” and an average target price of $17.24.
Insider Buying and Selling at NU
In other news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
NU Trading Up 2.8%
Shares of NU stock opened at $14.49 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. The company’s 50-day moving average price is $13.06 and its 200-day moving average price is $14.65. The stock has a market cap of $70.34 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 0.56 and a beta of 0.95.
NU (NYSE:NU – Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. As a group, equities analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.
NU declared that its board has approved a share repurchase plan on Thursday, June 4th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
NU 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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