Carnegie Investment Counsel Raises Stock Holdings in Nu Holdings Ltd. $NU

Carnegie Investment Counsel grew its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 648,477 shares of the company’s stock after purchasing an additional 42,494 shares during the quarter. Carnegie Investment Counsel’s holdings in NU were worth $9,319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sowell Financial Services LLC boosted its stake in NU by 4.8% in the fourth quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock valued at $217,000 after acquiring an additional 599 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of NU by 3.7% during the 4th 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 increased its stake in shares of NU by 1.2% during the 4th 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 raised its holdings in shares of NU by 1.2% in the 4th quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after purchasing an additional 621 shares during the period. Finally, Aptus Capital Advisors LLC raised its holdings in shares of 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 purchasing an additional 624 shares during the period. 84.02% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NU

In other NU 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 value of $257,040.00. Following the completion of the transaction, the director directly owned 162,150 shares of the company’s stock, 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 link. 1.20% of the stock is owned by corporate insiders.

NU Trading Up 0.2%

Shares of NU opened at $13.79 on Monday. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. The stock has a market cap of $66.95 billion, a PE ratio of 21.21, a P/E/G ratio of 0.55 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $12.93 and its 200-day moving average price is $14.87.

NU (NYSE:NU) last released its quarterly earnings data on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $5.32 billion during 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 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NU shares. Susquehanna lowered 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 research note on Wednesday, June 3rd. CICC Research began coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target for the company. 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. Zacks Research downgraded shares of NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.24.

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.