Wasatch Advisors LP Reduces Stock Position in Nu Holdings Ltd. $NU

Wasatch Advisors LP lessened its position in Nu Holdings Ltd. (NYSE:NU) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,051,556 shares of the company’s stock after selling 155,099 shares during the period. Wasatch Advisors LP’s holdings in NU were worth $144,441,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at NU

In related news, 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 sale, the director directly owned 162,150 shares in the company, valued at $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NU has been the subject of several research analyst reports. UBS Group dropped their price objective on NU from $18.10 to $16.90 and set a “buy” rating for the company in a report on Wednesday, May 20th. CICC Research started coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price on the stock. Itau BBA Securities restated an “outperform” rating on shares of NU in a report on Tuesday, March 17th. Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Finally, Bank of America reiterated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NU currently has a consensus rating of “Moderate Buy” and an average price target of $17.07.

NU Stock Performance

Shares of NU opened at $13.20 on Friday. The company has a 50-day simple moving average of $13.18 and a two-hundred day simple moving average of $15.09. 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 firm has a market capitalization of $64.10 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 0.50 and a beta of 0.95. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98.

NU (NYSE:NU) last posted its earnings results on Friday, May 15th. The company reported $0.19 earnings per share 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 analysts’ expectations of $5.06 billion. On average, analysts anticipate that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU declared that its Board of Directors has approved a stock repurchase plan on Thursday, June 4th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is 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.