Clear Street Group Inc. Takes $837,000 Position in Nu Holdings Ltd. $NU

Clear Street Group Inc. bought a new stake in Nu Holdings Ltd. (NYSE:NU) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,976 shares of the company’s stock, valued at approximately $837,000.

Other large investors also recently modified their holdings of the company. Sowell Financial Services LLC increased its stake in NU by 4.8% during the 4th quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock worth $217,000 after purchasing an additional 599 shares in the last quarter. Parallel Advisors LLC lifted its stake in NU by 3.7% in the fourth quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock valued at $282,000 after buying an additional 601 shares in the last quarter. MBM Wealth Consultants LLC boosted its holdings in shares of NU by 1.2% in the fourth quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock valued at $842,000 after buying an additional 607 shares during the period. Cornerstone Wealth Group LLC increased its position in shares of NU by 1.2% during the fourth quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after acquiring an additional 621 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its holdings in shares of NU by 3.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock worth $318,000 after acquiring an additional 624 shares during the period. 84.02% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction of $257,040.00. Following the completion of the transaction, the director owned 162,150 shares in the company, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the business’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 transaction, the chief executive officer directly owned 2,312,338 shares in the company, valued at approximately $34,245,725.78. This trade represents a 11.48% decrease in their position. The SEC filing for this sale provides additional information.

NU Price Performance

NYSE:NU opened at $12.45 on Tuesday. Nu Holdings Ltd. has a 52-week low of $11.20 and a 52-week high of $18.98. The company has a market cap of $60.43 billion, a P/E ratio of 19.15, a P/E/G ratio of 0.49 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s 50-day simple moving average is $13.54 and its 200 day simple moving average is $15.37.

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

NU declared that its board has approved a share buyback program on Thursday, June 4th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Susquehanna lowered shares of NU from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $13.00 in a research note on Wednesday, June 3rd. CICC Research assumed coverage on NU in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Scotiabank lowered NU to a “sector perform” rating and set a $13.00 target price on the stock. in a research report on Wednesday, June 3rd. UBS Group reduced their price target on NU from $18.10 to $16.90 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Finally, Weiss Ratings cut shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NU currently 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.