Avestar Capital LLC Sells 47,273 Shares of Nu Holdings Ltd. $NU

Avestar Capital LLC decreased its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 35.9% in the 4th quarter, Holdings Channel reports. The firm owned 84,242 shares of the company’s stock after selling 47,273 shares during the period. Avestar Capital LLC’s holdings in NU were worth $1,410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LOM Asset Management Ltd purchased a new position in shares of NU during the fourth quarter worth about $25,000. Cornerstone Planning Group LLC grew its holdings 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 purchasing an additional 1,580 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of NU during the fourth quarter worth about $31,000. Fifth Third Bancorp grew its holdings in shares of NU by 433.0% during the fourth quarter. Fifth Third Bancorp now owns 1,988 shares of the company’s stock worth $33,000 after purchasing an additional 1,615 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of NU by 63.5% during the second 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 in the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Stock Up 4.3%

Shares of NU opened at $12.15 on Friday. The firm has a market cap of $58.97 billion, a P/E ratio of 18.68, a P/E/G ratio of 0.46 and a beta of 0.95. The stock has a 50 day simple moving average of $13.84 and a two-hundred day simple moving average of $15.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98.

NU (NYSE:NU) last issued its earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. On average, analysts forecast that Nu Holdings Ltd. will post 0.84 earnings per share for the current fiscal year.

NU announced that its Board of Directors has initiated a stock buyback program on Thursday, June 4th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the sale, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.81, for a total value of $4,443,000.00. Following the completion of the sale, the chief executive officer directly owned 2,312,338 shares of the company’s stock, valued at approximately $34,245,725.78. This represents a 11.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Itau BBA Securities reissued an “outperform” rating on shares of NU in a report on Tuesday, March 17th. Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. UBS Group cut their price objective on NU from $18.10 to $16.90 and set a “buy” rating for the company in a report on Wednesday, May 20th. Susquehanna lowered NU from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $13.00 in a report on Wednesday. Finally, Zacks Research lowered NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.08.

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.