NU (NYSE:NU – Get Free Report) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $20.00 to $23.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 47.86% from the stock’s current price.
Several other research firms have also recently weighed in on NU. Weiss Ratings cut shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Rothschild & Co Redburn set a $19.00 price objective on NU in a research report on Monday, September 28th. Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of NU in a research note on Monday, September 28th. Wolfe Research reduced their target price 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, Itau BBA Securities downgraded shares of NU from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $20.00 to $18.00 in a research note on Wednesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, NU has an average rating of “Moderate Buy” and a consensus target price of $18.29.
Read Our Latest Analysis on NU
NU Stock Performance
NU (NYSE:NU – Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $0.22 earnings per share (EPS) for the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. The business had revenue of $5.88 billion for the quarter. As a group, sell-side analysts anticipate that NU will post 0.86 EPS for the current year.
Insiders Place Their Bets
In other news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $15.81, for a total value of $3,505,187.67. Following the sale, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cristina Junqueira sold 65,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total transaction of $956,150.00. Following the completion of the sale, the chief executive officer directly owned 2,542,083 shares in the company, valued at approximately $37,394,040.93. The trade was a 2.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 361,707 shares of company stock valued at $5,626,338.
Institutional Trading of NU
Several hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. acquired a new stake in NU during the 2nd quarter valued at $316,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of NU by 25.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 19,227 shares of the company’s stock worth $257,000 after purchasing an additional 3,883 shares during the last quarter. Andra AP fonden increased its stake in shares of NU by 17.7% in the second quarter. Andra AP fonden now owns 2,736,700 shares of the company’s stock valued at $36,562,000 after buying an additional 411,500 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of NU by 2.4% in the second quarter. Sequoia Financial Advisors LLC now owns 201,341 shares of the company’s stock valued at $2,690,000 after buying an additional 4,664 shares in the last quarter. Finally, IPG Investment Advisors LLC raised its holdings in shares of NU by 12.0% in the second quarter. IPG Investment Advisors LLC now owns 83,026 shares of the company’s stock valued at $1,109,000 after buying an additional 8,880 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.
About NU
Nu Holdings Ltd., operating under the Nubank brand, is a digital financial services company that provides banking and payment products primarily through mobile applications. The company offers digital accounts, credit cards, personal loans, payment services, investment products and insurance, serving consumers and small businesses.
Nubank was founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible with the goal of expanding access to simpler, lower-cost financial services through technology.
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