Candriam S.C.A. Reduces Stake in Nu Holdings Ltd. $NU

Candriam S.C.A. reduced its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 94.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,000 shares of the company’s stock after selling 5,395,700 shares during the quarter. Candriam S.C.A.’s holdings in NU were worth $4,311,000 at the end of the most recent quarter.

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

NU Trading Down 0.4%

Shares of NU stock opened at $13.71 on Tuesday. The business’s fifty day moving average price is $12.92 and its 200 day moving average price is $14.85. The firm has a market capitalization of $66.55 billion, a PE ratio of 21.08, a P/E/G ratio of 0.55 and a beta of 0.95. 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 released its earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $5.32 billion during the quarter, compared to analyst estimates 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 0.83 EPS for the current fiscal year.

NU declared that its board has authorized a share buyback program on Thursday, June 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Anita M. Sands sold 21,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the sale, the director directly owned 162,150 shares in the company, valued at $1,984,716. The trade was a 11.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

NU has been the subject of several analyst reports. Bank of America reaffirmed an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Susquehanna downgraded NU from a “positive” rating to a “neutral” rating and lowered their target price 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 report on Wednesday, June 3rd. JPMorgan Chase & Co. boosted their target price on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, CICC Research started coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target for the company. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NU presently has an average rating of “Moderate Buy” and a consensus price target of $17.24.

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.