CIBC Asset Management Inc Raises Position in Nu Holdings Ltd. $NU

CIBC Asset Management Inc grew its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 29.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 197,857 shares of the company’s stock after acquiring an additional 44,789 shares during the period. CIBC Asset Management Inc’s holdings in NU were worth $3,312,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Dynasty Wealth Management LLC lifted its holdings in shares of NU by 4.7% during the fourth quarter. Dynasty Wealth Management LLC now owns 28,508 shares of the company’s stock valued at $477,000 after purchasing an additional 1,285 shares during the last quarter. Natixis Advisors LLC increased its position in shares of NU by 6.1% during the fourth quarter. Natixis Advisors LLC now owns 1,203,605 shares of the company’s stock valued at $20,148,000 after acquiring an additional 69,253 shares in the last quarter. Allen Investment Management LLC increased its position in shares of NU by 1.9% during the fourth quarter. Allen Investment Management LLC now owns 4,111,637 shares of the company’s stock valued at $68,829,000 after acquiring an additional 76,340 shares in the last quarter. Mawer Investment Management Ltd. increased its position in shares of NU by 578.0% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,585,720 shares of the company’s stock valued at $76,765,000 after acquiring an additional 3,909,320 shares in the last quarter. Finally, a16z Perennial Management L.P. increased its position in shares of NU by 10.5% during the fourth quarter. a16z Perennial Management L.P. now owns 13,748,400 shares of the company’s stock valued at $230,148,000 after acquiring an additional 1,309,800 shares in the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NU news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of NU stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total value of $4,443,000.00. Following the completion of the sale, the chief executive officer owned 2,312,338 shares of the company’s stock, valued at approximately $34,245,725.78. The trade was a 11.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction that occurred 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 directly owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

NU Trading Down 0.0%

NYSE:NU opened at $11.97 on Monday. 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 Holdings Ltd. has a 12 month low of $11.20 and a 12 month high of $18.98. The company has a market cap of $58.10 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 0.48 and a beta of 0.95. The company has a 50 day simple moving average of $13.79 and a two-hundred day simple moving average of $15.53.

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 company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. Research analysts forecast that Nu Holdings Ltd. will post 0.84 earnings per share for the current year.

NU announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 4th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

NU has been the subject of several analyst reports. UBS Group reduced their price target 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. Bank of America reissued an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Susquehanna downgraded shares of NU from a “positive” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Weiss Ratings downgraded shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Finally, Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 price target for the company. in a research report on Wednesday. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.08.

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.