Andra AP fonden Buys 850,600 Shares of Nu Holdings Ltd. $NU

Andra AP fonden lifted its stake in Nu Holdings Ltd. (NYSE:NU) by 57.7% during the first quarter, Holdings Channel reports. The fund owned 2,325,200 shares of the company’s stock after acquiring an additional 850,600 shares during the quarter. Andra AP fonden’s holdings in NU were worth $33,413,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NU. Norges Bank acquired a new position in NU during the fourth quarter valued at approximately $763,792,000. Larch Capital Partners LLC acquired a new stake in shares of NU in the fourth quarter worth $605,829,000. Jennison Associates LLC boosted its holdings in shares of NU by 82.6% during the 4th quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock worth $659,067,000 after buying an additional 17,809,644 shares during the period. Atmos Capital Gestao DE Recursos LTDA. boosted its holdings in shares of NU by 109.1% during the 4th quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 29,813,810 shares of the company’s stock worth $499,083,000 after buying an additional 15,552,726 shares during the period. Finally, Marshall Wace LLP raised its holdings in NU by 98.4% in the 3rd quarter. Marshall Wace LLP now owns 29,141,505 shares of the company’s stock worth $466,555,000 after acquiring an additional 14,449,834 shares during the period. 84.02% of the stock is currently owned by institutional investors and hedge funds.

NU Trading Up 3.2%

Shares of NU stock opened at $14.03 on Tuesday. The firm has a market capitalization of $68.13 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 0.54 and a beta of 0.95. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The firm’s fifty day simple moving average is $12.90 and its 200 day simple moving average is $14.75. 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 issued 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 predict that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU declared that its board has approved a stock repurchase plan 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 plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NU shares. UBS Group cut their target price on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Scotiabank lowered NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a research note on Wednesday, June 3rd. Susquehanna cut 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 research report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their target price on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Finally, CICC Research started coverage on NU in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.24.

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were 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 of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website.

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.