Sands Capital Management LLC Sells 6,138,267 Shares of Nu Holdings Ltd. $NU

Sands Capital Management LLC cut its stake in Nu Holdings Ltd. (NYSE:NU) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,423,895 shares of the company’s stock after selling 6,138,267 shares during the quarter. NU comprises approximately 2.3% of Sands Capital Management LLC’s holdings, making the stock its 18th largest holding. Sands Capital Management LLC’s holdings in NU were worth $743,656,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its position in NU by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock worth $4,306,481,000 after buying an additional 5,797,365 shares during the last quarter. Morgan Stanley lifted its position in NU by 2.9% in the fourth quarter. Morgan Stanley now owns 121,350,701 shares of the company’s stock worth $2,031,411,000 after buying an additional 3,419,077 shares during the last quarter. State Street Corp lifted its position in NU by 0.3% in the third quarter. State Street Corp now owns 91,478,395 shares of the company’s stock worth $1,464,569,000 after buying an additional 239,660 shares during the last quarter. Norges Bank bought a new stake in NU in the fourth quarter worth $763,792,000. Finally, Jennison Associates LLC lifted its position in NU by 82.6% in the fourth quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock worth $659,067,000 after buying an additional 17,809,644 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.

NU Stock Down 0.2%

NYSE:NU opened at $12.16 on Monday. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. The company has a market cap of $59.06 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.49 and a beta of 0.95. The stock has a fifty day simple moving average of $13.58 and a 200-day simple moving average of $15.40. 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 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. Analysts anticipate that Nu Holdings Ltd. will post 0.84 EPS for the current year.

NU announced that its board has authorized a stock repurchase plan on Thursday, June 4th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NU. Weiss Ratings downgraded NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price target for the company. in a research report on Wednesday, June 3rd. Susquehanna downgraded NU from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Bank of America reiterated an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Finally, Zacks Research downgraded NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.08.

Insider Activity

In related news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of NU stock in a transaction dated Monday, March 23rd. The stock was 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 directly owned 2,312,338 shares in the company, valued at $34,245,725.78. The trade was a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the sale, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

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.