Madison Asset Management LLC acquired a new stake in Nu Holdings Ltd. (NYSE:NU – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 280,542 shares of the company’s stock, valued at approximately $3,748,000.
Several other large investors have also bought and sold shares of NU. Caitong International Asset Management Co. Ltd grew its position in shares of NU by 14,810.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock valued at $25,000 after buying an additional 1,481 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of NU by 5,448.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock worth $27,000 after acquiring an additional 1,580 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of NU in the fourth quarter worth approximately $27,000. Morse Asset Management Inc bought a new stake in NU in the fourth quarter valued at approximately $31,000. Finally, Fifth Third Bancorp boosted its holdings in NU by 433.0% in the fourth quarter. Fifth Third Bancorp now owns 1,988 shares of the company’s stock valued at $33,000 after acquiring an additional 1,615 shares during the last quarter. 84.02% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
NU has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of NU in a research report on Friday, August 7th. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. increased their price objective on shares of NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Susquehanna lifted their target price on shares of NU from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. Finally, Needham & Company LLC boosted their target price on shares of NU from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, August 14th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.72.
NU Stock Performance
Shares of NU stock opened at $14.20 on Friday. The company has a market cap of $68.95 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 0.57 and a beta of 0.94. Nu Holdings Ltd. has a 52 week low of $11.20 and a 52 week high of $18.98. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $13.73 and a 200-day moving average of $14.24.
NU (NYSE:NU – Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 earnings per share for the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. The company had revenue of $5.88 billion during the quarter. On average, equities analysts forecast that Nu Holdings Ltd. will post 0.86 earnings per share for the current year.
NU declared that its board has authorized a share repurchase program on Thursday, June 4th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
Insiders Place Their Bets
In other news, CEO Cristina Helena Zing Junqueira sold 50,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $15.80, for a total transaction of $790,000.00. Following the transaction, the chief executive officer owned 4,927,593 shares of the company’s stock, valued at $77,855,969.40. This represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $15.81, for a total transaction of $3,505,187.67. Following the transaction, the insider directly owned 979,446 shares in the company, valued at $15,485,041.26. This trade represents a 18.46% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.20% 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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