USS Investment Management Ltd Boosts Holdings in Nu Holdings Ltd. $NU

USS Investment Management Ltd raised its position in Nu Holdings Ltd. (NYSE:NU) by 84.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,854,145 shares of the company’s stock after purchasing an additional 3,143,141 shares during the period. USS Investment Management Ltd owned 0.14% of NU worth $98,528,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of NU in the fourth quarter worth $763,792,000. Larch Capital Partners LLC purchased a new position in NU during the fourth quarter worth about $605,829,000. Lone Pine Capital LLC purchased a new position in NU during the third quarter worth about $406,757,000. Jennison Associates LLC increased its stake in NU by 82.6% in the 4th quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock worth $659,067,000 after acquiring an additional 17,809,644 shares during the last quarter. Finally, Atmos Capital Gestao DE Recursos LTDA. increased its stake in NU by 109.1% in the 4th quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 29,813,810 shares of the company’s stock worth $499,083,000 after acquiring an additional 15,552,726 shares during the last quarter. 84.02% of the stock is currently 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 company’s stock in a transaction that occurred on Friday, May 15th. The stock was 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. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

Several research firms have weighed in on NU. Weiss Ratings cut NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Susquehanna lowered NU from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $13.00 in a report on Wednesday, June 3rd. Needham & Company LLC began coverage on shares of NU in a research report on Friday. They issued a “buy” rating and a $17.00 price objective on the stock. UBS Group lowered their target price on shares of NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Finally, 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 for the company. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.07.

NU Trading Up 1.7%

NYSE NU opened at $13.35 on Wednesday. The stock’s 50-day simple moving average is $13.10 and its two-hundred day simple moving average is $15.03. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. 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 company has a market capitalization of $64.84 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 0.53 and a beta of 0.95.

NU (NYSE:NU) last posted its quarterly earnings data 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). The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. Research analysts forecast that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU announced that its Board of Directors has initiated a share buyback plan on Thursday, June 4th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.