Candriam S.C.A. grew its holdings in Nu Holdings Ltd. (NYSE:NU – Free Report) by 616.0% in the third quarter, Holdings Channel.com reports. The firm owned 2,484,400 shares of the company’s stock after purchasing an additional 2,137,400 shares during the period. Candriam S.C.A.’s holdings in NU were worth $31,567,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of NU by 8.6% during the first quarter. Bank of America Corp DE now owns 45,966,932 shares of the company’s stock valued at $660,545,000 after buying an additional 3,656,945 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in NU by 127.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 38,263,897 shares of the company’s stock worth $484,421,000 after acquiring an additional 21,405,374 shares in the last quarter. Maverick Capital Ltd. lifted its stake in NU by 91.6% in the 1st quarter. Maverick Capital Ltd. now owns 22,444,311 shares of the company’s stock worth $322,525,000 after acquiring an additional 10,729,747 shares in the last quarter. Squadra Investments Gestao DE Recursos LTDA. lifted its stake in NU by 266.8% in 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 acquiring an additional 16,229,515 shares in the last quarter. Finally, Coronation Fund Managers Ltd. boosted its position in NU by 24.8% during the 1st quarter. Coronation Fund Managers Ltd. now owns 17,973,549 shares of the company’s stock worth $258,280,000 after acquiring an additional 3,570,451 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.
Insider Transactions at NU
In other NU news, CEO Cristina Junqueira sold 65,000 shares of the business’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 owned 2,542,083 shares in the company, valued at $37,394,040.93. The trade was a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 979,446 shares in the company, valued at approximately $15,485,041.26. The trade was a 18.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 386,707 shares of company stock worth $6,001,588 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Wolfe Research lowered their target price on NU from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 25th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of NU in a research report on Monday, September 28th. JPMorgan Chase & Co. increased their price target on shares of NU from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Monness Crespi & Hardt assumed coverage on shares of NU in a report on Monday, October 26th. They set a “buy” rating and a $20.00 price target for the company. Finally, Weiss Ratings downgraded shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.
Check Out Our Latest Stock Analysis on NU
NU Trading Down 0.2%
NYSE NU opened at $12.01 on Monday. Nu Holdings Ltd. has a 1-year low of $11.20 and a 1-year high of $18.98. 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 market capitalization of $58.31 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.50 and a beta of 0.97. The firm’s fifty day simple moving average is $14.01 and its 200-day simple moving average is $14.36.
NU (NYSE:NU – Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 earnings per share (EPS) for the quarter. The business 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%. As a group, sell-side analysts anticipate that Nu Holdings Ltd. will post 0.85 earnings per share for the current fiscal year.
NU Company Profile
Nu Holdings Ltd., which operates under the Nubank brand, is a digital financial services company founded in Brazil in 2013. It provides banking and related services through mobile apps and other digital channels, with a focus on simplifying access to financial products.
Its offerings include digital accounts, payment cards, credit products, personal loans, and investment services. The company also provides services to small businesses, with products and availability varying by country.
Nu serves customers in Brazil, Mexico, and Colombia.
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