NU (NYSE:NU) Upgraded at Needham & Company LLC

NU (NYSE:NU) was upgraded by research analysts at Needham & Company LLC to a “moderate buy” rating in a research report issued on Friday,Zacks.com reports.

A number of other research firms have also weighed in on NU. Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Susquehanna lowered shares of 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. Zacks Research cut shares of NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 price target on the stock. in a research note on Wednesday, June 3rd. Finally, Bank of America reiterated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NU has an average rating of “Moderate Buy” and a consensus target price of $17.07.

NU Stock Up 6.0%

Shares of NYSE:NU opened at $13.20 on Friday. The firm has a market capitalization of $64.10 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 0.50 and a beta of 0.95. The business has a 50 day simple moving average of $13.18 and a two-hundred day simple moving average of $15.09. NU has a 1 year low of $11.20 and a 1 year high of $18.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58.

NU (NYSE:NU) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, equities analysts predict that NU will post 0.83 EPS for the current year.

NU announced that its Board of Directors has authorized a share repurchase program on Thursday, June 4th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction of $257,040.00. Following the completion of the sale, the director directly owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Trading of NU

A number of institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of NU by 63.5% during the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock worth $52,000 after acquiring an additional 1,464 shares during the last quarter. Jump Financial LLC raised its position in shares of NU by 541.8% in the 2nd quarter. Jump Financial LLC now owns 185,434 shares of the company’s stock valued at $2,544,000 after purchasing an additional 156,539 shares during the last quarter. WINTON GROUP Ltd raised its position in shares of NU by 38.5% in the 2nd quarter. WINTON GROUP Ltd now owns 37,156 shares of the company’s stock valued at $510,000 after purchasing an additional 10,332 shares during the last quarter. AXA S.A. boosted its stake in NU by 1.4% in the 2nd quarter. AXA S.A. now owns 192,311 shares of the company’s stock worth $2,639,000 after purchasing an additional 2,682 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its stake in NU by 63.7% in the 2nd quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock worth $274,000 after purchasing an additional 7,760 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

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.