ABN Amro Investment Solutions Purchases New Position in Nu Holdings Ltd. $NU

ABN Amro Investment Solutions bought a new stake in shares of Nu Holdings Ltd. (NYSE:NU) in the 1st quarter, Holdings Channel reports. The firm bought 121,101 shares of the company’s stock, valued at approximately $1,740,000.

A number of other hedge funds also recently bought and sold shares of the stock. LOM Asset Management Ltd acquired a new stake in NU in the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of NU by 14,810.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock valued at $25,000 after purchasing an additional 1,481 shares during the period. Cornerstone Planning Group LLC lifted its position in NU by 5,448.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock valued at $27,000 after buying an additional 1,580 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in NU during the 4th quarter worth approximately $27,000. Finally, Morse Asset Management Inc purchased a new stake in shares of NU during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

NU Trading Down 0.5%

NYSE:NU opened at $14.12 on Friday. 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 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 $68.54 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 0.57 and a beta of 0.95. The stock has a fifty day simple moving average of $13.02 and a 200 day simple moving average of $14.69.

NU (NYSE:NU) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NU shares. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 target price on the stock. in a report on Wednesday, June 3rd. Weiss Ratings downgraded NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Bank of America reiterated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. CICC Research initiated coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Needham & Company LLC assumed coverage on NU in a research report on Friday, June 26th. They issued a “buy” rating and a $17.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock 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.