Diversify Wealth Management LLC Invests $761,000 in Nu Holdings Ltd. $NU

Diversify Wealth Management LLC bought a new position in Nu Holdings Ltd. (NYSE:NU) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 54,225 shares of the company’s stock, valued at approximately $761,000.

A number of other large investors have also made changes to their positions in the company. Carnegie Investment Counsel lifted its holdings in shares of NU by 7.0% in the first quarter. Carnegie Investment Counsel now owns 648,477 shares of the company’s stock valued at $9,319,000 after purchasing an additional 42,494 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of NU by 3.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 351,245 shares of the company’s stock worth $5,047,000 after purchasing an additional 13,158 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in NU by 9.5% in the first quarter. Sequoia Financial Advisors LLC now owns 196,677 shares of the company’s stock worth $2,826,000 after acquiring an additional 17,140 shares in the last quarter. Equitable Trust Co. increased its position in NU by 1.4% during the first quarter. Equitable Trust Co. now owns 180,969 shares of the company’s stock worth $2,601,000 after buying an additional 2,464 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of NU by 444.1% in the 1st quarter. Hsbc Holdings PLC now owns 7,782,758 shares of the company’s stock valued at $111,555,000 after acquiring an additional 6,352,288 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Analyst Ratings Changes

NU has been the subject of several recent analyst reports. Needham & Company LLC assumed coverage on NU in a research note on Friday, June 26th. They set a “buy” rating and a $17.00 target price for the company. CICC Research assumed coverage on shares of NU in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price on the stock. Weiss Ratings downgraded shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their target price on NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.24.

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 162,150 shares of the company’s stock, valued at $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

NU Price Performance

Shares of NU opened at $13.78 on Friday. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The stock’s 50-day moving average price is $12.89 and its two-hundred day moving average price is $14.79. The stock has a market cap of $66.92 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95. 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 quarterly 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). The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. On average, equities analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

NU declared 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. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

NU 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.