Assenagon Asset Management S.A. Grows Stock Holdings in Nu Holdings Ltd. $NU

Assenagon Asset Management S.A. grew its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 17.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,535,091 shares of the company’s stock after buying an additional 4,944,618 shares during the period. NU accounts for approximately 0.7% of Assenagon Asset Management S.A.’s portfolio, making the stock its 21st largest holding. Assenagon Asset Management S.A.’s holdings in NU were worth $467,529,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NU. Sowell Financial Services LLC increased its holdings in shares of NU by 4.8% in the 4th quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock worth $217,000 after buying an additional 599 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of NU by 3.7% in the fourth 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 holdings in shares of NU by 1.2% in the fourth 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 boosted its position in NU by 1.2% during the 4th quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock valued at $866,000 after buying an additional 621 shares during the period. Finally, Aptus Capital Advisors LLC grew its holdings in NU by 3.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock worth $318,000 after acquiring an additional 624 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on NU shares. Itau BBA Securities restated an “outperform” rating on shares of NU in a report on Tuesday, March 17th. Bank of America reiterated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. UBS Group dropped their price target on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price target on the stock. in a research note on Wednesday, June 3rd. Finally, Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.08.

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was 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 of the company’s stock, valued at $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NU Stock Performance

NU stock opened at $12.60 on Wednesday. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The stock’s fifty day moving average price is $13.34 and its 200-day moving average price is $15.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $61.18 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 0.51 and a beta of 0.95.

NU (NYSE:NU) last released its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $5.32 billion for 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%. On average, equities analysts forecast that Nu Holdings Ltd. will post 0.83 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 authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.