Nu Holdings Ltd. $NU is FirstWave Capital Management LLC’s 10th Largest Position

FirstWave Capital Management LLC boosted its holdings in Nu Holdings Ltd. (NYSE:NU) by 78.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 518,327 shares of the company’s stock after acquiring an additional 228,575 shares during the period. NU accounts for about 3.1% of FirstWave Capital Management LLC’s investment portfolio, making the stock its 10th largest position. FirstWave Capital Management LLC’s holdings in NU were worth $6,925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in NU by 3.7% in the fourth quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock valued at $282,000 after purchasing an additional 601 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in NU by 3.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock worth $318,000 after acquiring an additional 624 shares in the last quarter. Wisconsin Capital Management LLC grew its holdings in NU by 1.1% during the 4th quarter. Wisconsin Capital Management LLC now owns 68,284 shares of the company’s stock valued at $1,143,000 after purchasing an additional 737 shares in the last quarter. World Investment Advisors grew its stake in shares of NU by 5.1% during the first quarter. World Investment Advisors now owns 16,370 shares of the company’s stock valued at $235,000 after acquiring an additional 791 shares in the last quarter. Finally, Mason & Associates Inc boosted its holdings in NU by 2.7% in the first quarter. Mason & Associates Inc now owns 30,783 shares of the company’s stock valued at $416,000 after purchasing an additional 808 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NU shares. Wolfe Research dropped their price objective on NU from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. UBS Group raised their price target on shares of NU from $16.90 to $18.20 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Susquehanna lifted their price target on shares of NU from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. upped their price target on shares of NU from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings downgraded shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.91.

NU Price Performance

Shares of NYSE:NU opened at $15.34 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $14.23 and a 200 day simple moving average of $14.07. The company has a market cap of $74.49 billion, a PE ratio of 20.73, a P/E/G ratio of 0.61 and a beta of 0.94. Nu Holdings Ltd. has a fifty-two week low of $11.20 and a fifty-two week high of $18.98.

NU (NYSE:NU) last posted its earnings results on Tuesday, June 30th. The company reported $0.22 earnings per share (EPS) for the quarter. The firm had revenue of $5.88 billion during the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. On average, sell-side analysts anticipate that Nu Holdings Ltd. will post 0.86 EPS for the current year.

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

Insider Buying and Selling at NU

In other news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $15.81, for a total value of $3,505,187.67. Following the completion of the sale, the insider directly owned 979,446 shares of the company’s stock, valued at $15,485,041.26. This represents a 18.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cristina Junqueira sold 65,000 shares of NU stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total transaction of $956,150.00. Following the sale, the chief executive officer directly owned 2,542,083 shares of the company’s stock, valued at $37,394,040.93. This trade represents a 2.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 361,707 shares of company stock worth $5,626,338 over the last three months. 1.20% of the stock is owned by insiders.

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.