Bank of New York Mellon Corp Buys 349,255 Shares of Nu Holdings Ltd. $NU

Bank of New York Mellon Corp increased its stake in Nu Holdings Ltd. (NYSE:NU) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,011,073 shares of the company’s stock after purchasing an additional 349,255 shares during the quarter. Bank of New York Mellon Corp’s holdings in NU were worth $115,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in NU by 63.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock worth $52,000 after acquiring an additional 1,464 shares during the period. Jump Financial LLC boosted its holdings in NU by 541.8% in the 2nd quarter. Jump Financial LLC now owns 185,434 shares of the company’s stock valued at $2,544,000 after purchasing an additional 156,539 shares during the period. WINTON GROUP Ltd grew its position in shares of NU by 38.5% during the 2nd quarter. WINTON GROUP Ltd now owns 37,156 shares of the company’s stock valued at $510,000 after purchasing an additional 10,332 shares in the last quarter. AXA S.A. grew its position in shares of NU by 1.4% during the 2nd quarter. AXA S.A. now owns 192,311 shares of the company’s stock valued at $2,639,000 after purchasing an additional 2,682 shares in the last quarter. Finally, Nebula Research & Development LLC grew its position in shares of NU by 63.7% during the 2nd quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock valued at $274,000 after purchasing an additional 7,760 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors.

Insider Transactions at NU

In other news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the transaction, the director owned 162,150 shares in the company, valued at $1,984,716. This represents a 11.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NU. Susquehanna cut shares of NU from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $13.00 in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. upped their target price on shares of NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Needham & Company LLC initiated coverage on NU in a research note on Friday, June 26th. They issued a “buy” rating and a $17.00 target price on the stock. Weiss Ratings downgraded NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Finally, Bank of America reaffirmed an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Ten research 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’s stock. Based on data from MarketBeat, NU has a consensus rating of “Moderate Buy” and an average price target of $17.24.

NU Stock Up 3.2%

NU stock opened at $14.03 on Tuesday. The business has a 50 day moving average of $12.90 and a 200 day moving average of $14.75. The firm has a market cap of $68.13 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 0.54 and a beta of 0.95. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. The company has a quick ratio of 0.58, a current 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 analysts’ consensus estimates of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. On average, research analysts forecast that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU announced that its Board of Directors has approved a share repurchase program on Thursday, June 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.