Salem Investment Counselors Inc. cut its holdings in Nu Holdings Ltd. (NYSE:NU – Free Report) by 11.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,857,526 shares of the company’s stock after selling 250,742 shares during the period. Salem Investment Counselors Inc.’s holdings in NU were worth $23,516,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Squadra Investments Gestao DE Recursos LTDA. boosted its position in shares of NU by 266.8% during the 1st quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company’s stock worth $320,631,000 after purchasing an additional 16,229,515 shares during the period. Bank of Nova Scotia increased its holdings in NU by 855.9% during the 1st quarter. Bank of Nova Scotia now owns 16,111,616 shares of the company’s stock worth $231,524,000 after purchasing an additional 14,426,181 shares during the period. Maverick Capital Ltd. increased its stake in shares of NU by 91.6% during the first quarter. Maverick Capital Ltd. now owns 22,444,311 shares of the company’s stock worth $322,525,000 after buying an additional 10,729,747 shares during the period. SG Americas Securities LLC increased its position in shares of NU by 1,198.4% in the 1st quarter. SG Americas Securities LLC now owns 7,964,591 shares of the company’s stock valued at $114,451,000 after purchasing an additional 7,351,167 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in NU by 444.1% in the first quarter. Hsbc Holdings PLC now owns 7,782,758 shares of the company’s stock valued at $111,555,000 after buying an additional 6,352,288 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.
Wall Street Analyst Weigh In
NU has been the topic of a number of research analyst reports. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $20.00 to $18.00 in a report on Wednesday, September 16th. Wolfe Research reduced their target price on shares of NU from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, August 25th. JPMorgan Chase & Co. lifted their price objective on shares of NU from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. Weiss Ratings lowered NU from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of NU in a research report on Monday, September 28th. Nine 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.94.
NU Price Performance
Shares of NYSE:NU opened at $15.60 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $75.73 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 0.65 and a beta of 0.95. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The business’s fifty day moving average price is $14.45 and its two-hundred day moving average price is $13.91.
NU (NYSE:NU – Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 EPS for the quarter. The firm had revenue of $5.88 billion during the quarter. NU had a return on equity of 31.59% and a net margin of 18.65%. On average, analysts forecast that Nu Holdings Ltd. will post 0.86 EPS for the current fiscal year.
Insider Activity
In other news, CEO Cristina Junqueira sold 65,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total value of $956,150.00. Following the transaction, the chief executive officer directly owned 2,542,083 shares in the company, valued at $37,394,040.93. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 shares were 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 approximately $15,485,041.26. This trade represents a 18.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 386,707 shares of company stock worth $6,001,588.
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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