Amova Asset Management Americas Inc. Sells 54,907 Shares of Nu Holdings Ltd. $NU

Amova Asset Management Americas Inc. trimmed its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 1.2% in the 1st quarter, Holdings Channel reports. The firm owned 4,395,488 shares of the company’s stock after selling 54,907 shares during the period. Amova Asset Management Americas Inc.’s holdings in NU were worth $63,163,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction of $257,040.00. Following the sale, the director directly owned 162,150 shares in the company, valued at $1,984,716. This trade 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 hyperlink.

Analyst Ratings Changes

NU has been the topic of a number of recent research reports. Susquehanna downgraded NU from a “positive” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $13.00 in a report on Wednesday, June 3rd. 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. Needham & Company LLC initiated coverage on shares of NU in a research note on Friday, June 26th. They issued a “buy” rating and a $17.00 price objective on the stock. CICC Research began coverage on shares of NU in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 target price for the company. in a research report on Wednesday, June 3rd. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.24.

NU Trading Up 3.2%

NU stock opened at $14.03 on Tuesday. The firm has a 50 day moving average of $12.90 and a 200 day moving average of $14.75. The firm has a market capitalization of $68.13 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 0.54 and a beta of 0.95. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. 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 released 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 firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. As a group, research analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

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

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.