C WorldWide Group Holding A S increased its position in Nu Holdings Ltd. (NYSE:NU – Free Report) by 1,188.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,973,457 shares of the company’s stock after acquiring an additional 4,587,432 shares during the period. NU makes up about 1.6% of C WorldWide Group Holding A S’s portfolio, making the stock its 16th biggest holding. C WorldWide Group Holding A S owned about 0.10% of NU worth $66,445,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of NU. Caitong International Asset Management Co. Ltd increased its holdings in shares of NU by 14,810.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock valued at $25,000 after purchasing an additional 1,481 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of NU during the fourth quarter worth about $27,000. Hollencrest Capital Management purchased a new stake in shares of NU during the fourth quarter worth about $33,000. Harbor Investment Advisory LLC raised its position in shares of NU by 68.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 3,010 shares of the company’s stock worth $40,000 after purchasing an additional 1,220 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of NU by 63.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock worth $52,000 after purchasing an additional 1,464 shares during the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.
NU Stock Down 0.4%
Shares of NYSE NU opened at $15.30 on Wednesday. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The stock has a market cap of $74.31 billion, a PE ratio of 20.68, a P/E/G ratio of 0.60 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $14.31 and a 200 day moving average of $14.03.
NU declared that its Board of Directors has authorized a stock repurchase plan on Thursday, June 4th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Insider Activity at NU
In related news, CEO Cristina Junqueira sold 65,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total value of $956,150.00. Following the completion of the sale, the chief executive officer owned 2,542,083 shares of the company’s stock, valued at approximately $37,394,040.93. This trade represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of NU stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $15.81, for a total value of $3,505,187.67. Following the transaction, the insider owned 979,446 shares in the company, valued at approximately $15,485,041.26. The trade was a 18.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 361,707 shares of company stock valued at $5,626,338. Insiders own 1.20% of the company’s stock.
Analyst Upgrades and Downgrades
NU has been the topic of several research analyst reports. Weiss Ratings cut NU from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 21st. Susquehanna increased their target price on NU from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, August 14th. UBS Group raised their target price on NU from $16.90 to $18.20 and gave the company a “buy” rating in a research report on Thursday, August 20th. Wolfe Research dropped their price target on NU from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, August 25th. Finally, Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price objective for the company. in a research note on Wednesday, June 3rd. 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.91.
Read Our Latest Analysis on NU
NU Company Profile
Nu Holdings Ltd., operating under the Nubank brand, is a digital financial services company that provides banking, payments and credit products through mobile applications. Its offerings include digital bank accounts, credit cards, personal loans, payment services, investment products and insurance, serving consumers and small businesses.
Founded in Brazil in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nubank was established to simplify financial services and expand access to banking through technology.
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