Nu Holdings Ltd. $NU Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its holdings in Nu Holdings Ltd. (NYSE:NU) by 13.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 808,952 shares of the company’s stock after selling 121,560 shares during the period. TD Asset Management Inc’s holdings in NU were worth $13,542,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. LOM Asset Management Ltd acquired a new stake in NU in the 4th quarter worth about $25,000. Cornerstone Planning Group LLC raised its holdings in shares of NU by 5,448.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock worth $27,000 after purchasing an additional 1,580 shares during the period. Morse Asset Management Inc purchased a new position in shares of NU in the 4th quarter worth about $31,000. Fifth Third Bancorp raised its holdings in shares of NU by 433.0% in the 4th quarter. Fifth Third Bancorp now owns 1,988 shares of the company’s stock worth $33,000 after purchasing an additional 1,615 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of NU by 63.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock worth $52,000 after purchasing an additional 1,464 shares during the period. 84.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other NU news, Director Anita M. Sands sold 21,000 shares of the firm’s 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 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 through the SEC website. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the firm’s 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 sale, the chief executive officer owned 2,312,338 shares of the company’s stock, valued at approximately $34,245,725.78. This trade represents a 11.48% decrease in their position. The SEC filing for this sale provides additional information.

NU Stock Performance

Shares of NYSE:NU opened at $11.58 on Tuesday. The company has a market cap of $56.25 billion, a P/E ratio of 17.82, a PEG ratio of 0.48 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The business’s 50-day simple moving average is $13.74 and its 200 day simple moving average is $15.50.

NU (NYSE:NU) last announced its earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. On average, sell-side analysts forecast that Nu Holdings Ltd. will post 0.84 earnings per share for the current fiscal year.

NU announced that its Board of Directors has authorized 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. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NU. Weiss Ratings downgraded NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. Zacks Research downgraded NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. CICC Research began coverage on NU in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Bank of America restated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Ten equities research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.08.

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.