Carnegie Investment Counsel Buys 42,494 Shares of Nu Holdings Ltd. $NU

Carnegie Investment Counsel raised its position in shares of Nu Holdings Ltd. (NYSE:NU) by 7.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 648,477 shares of the company’s stock after purchasing an additional 42,494 shares during the quarter. Carnegie Investment Counsel’s holdings in NU were worth $9,319,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NU. LOM Asset Management Ltd acquired a new position in NU in the fourth quarter valued at $25,000. Caitong International Asset Management Co. Ltd grew its holdings in NU by 14,810.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock worth $25,000 after acquiring an additional 1,481 shares during the period. Cornerstone Planning Group LLC grew its holdings in NU by 5,448.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock worth $27,000 after acquiring an additional 1,580 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of NU in the 4th quarter worth about $27,000. Finally, Morse Asset Management Inc bought a new position in shares of NU in the 4th quarter worth about $31,000. Institutional investors own 84.02% of the company’s stock.

Insider Transactions at NU

In related news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction on 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 sale, the director owned 162,150 shares in the company, valued at approximately $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Needham & Company LLC began coverage on NU in a research report on Friday, June 26th. They set a “buy” rating and a $17.00 target price on the stock. Susquehanna downgraded shares of NU from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $13.00 in a research report on Wednesday, June 3rd. UBS Group lowered their price objective on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a research note on Wednesday, May 20th. CICC Research assumed coverage on shares of NU in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target for the company. Finally, Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NU presently has an average rating of “Moderate Buy” and a consensus target price of $17.24.

NU Stock Up 0.2%

NU stock opened at $13.79 on Monday. Nu Holdings Ltd. has a 1-year low of $11.20 and a 1-year high of $18.98. The firm has a market capitalization of $66.95 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 0.55 and a beta of 0.95. The firm’s fifty day moving average price is $12.93 and its two-hundred day moving average price is $14.87. 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 (NYSE:NU) last posted 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). The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. On average, equities research analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU declared that its board has authorized a share repurchase plan on Thursday, June 4th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About NU

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.