Hsbc Holdings PLC Has $24.02 Million Stock Position in Nu Holdings Ltd. $NU

Hsbc Holdings PLC cut its stake in Nu Holdings Ltd. (NYSE:NU) by 9.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,430,470 shares of the company’s stock after selling 144,083 shares during the period. Hsbc Holdings PLC’s holdings in NU were worth $24,024,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LOM Asset Management Ltd acquired a new position in shares of NU in the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd increased its position in shares of NU by 14,810.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock worth $25,000 after buying an additional 1,481 shares during the period. Cornerstone Planning Group LLC increased its position 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 buying an additional 1,580 shares during the period. Zions Bancorporation National Association UT bought a new position in NU during the fourth quarter worth $27,000. Finally, Morse Asset Management Inc acquired a new position in NU in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 84.02% of the company’s stock.

Insider Transactions at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of the firm’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 approximately $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NU Price Performance

Shares of NYSE NU opened at $14.04 on Tuesday. The firm has a market capitalization of $68.15 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.54 and a beta of 0.95. The firm’s 50-day moving average price is $13.00 and its 200-day moving average price is $14.95. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. 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 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. Equities research analysts anticipate that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU declared that its Board of Directors has initiated a share repurchase program on Thursday, June 4th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NU shares. Itau BBA Securities reiterated an “outperform” rating on shares of NU in a report on Tuesday, March 17th. Susquehanna downgraded NU from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $13.00 in a research note on Wednesday, June 3rd. 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. Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Finally, CICC Research started coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.24.

NU 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.