Ieq Capital LLC Decreases Stake in Nu Holdings Ltd. $NU

Ieq Capital LLC lowered its position in Nu Holdings Ltd. (NYSE:NU) by 5.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,574,388 shares of the company’s stock after selling 272,972 shares during the quarter. Ieq Capital LLC owned about 0.09% of NU worth $76,575,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its holdings in NU by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock worth $4,306,481,000 after acquiring an additional 5,797,365 shares during the last quarter. State Street Corp increased its holdings in NU by 0.3% in the 3rd quarter. State Street Corp now owns 91,478,395 shares of the company’s stock worth $1,464,569,000 after acquiring an additional 239,660 shares during the last quarter. Norges Bank bought a new position in NU in the 4th quarter worth about $763,792,000. Jennison Associates LLC boosted 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 purchasing an additional 17,809,644 shares during the period. Finally, Legal & General Group Plc boosted its stake in NU by 5.0% in the 3rd quarter. Legal & General Group Plc now owns 30,176,407 shares of the company’s stock worth $483,124,000 after purchasing an additional 1,430,827 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Analysts Set New Price Targets

NU has been the subject of several analyst reports. UBS Group cut their target price on NU from $18.10 to $16.90 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Itau BBA Securities restated an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. Zacks Research downgraded NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Bank of America restated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Finally, Weiss Ratings downgraded NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NU has an average rating of “Moderate Buy” and an average target price of $17.08.

NU Stock Performance

Shares of NU opened at $12.16 on Friday. The company has a market cap of $59.06 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 0.48 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. The stock has a 50-day moving average price of $13.58 and a 200-day moving average price of $15.40. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98.

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). The business had revenue of $5.32 billion for 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%. As a group, equities analysts forecast that Nu Holdings Ltd. will post 0.84 earnings per share 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 buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at NU

In other news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of NU stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $14.81, for a total transaction of $4,443,000.00. Following the completion of the sale, the chief executive officer owned 2,312,338 shares in the company, valued at approximately $34,245,725.78. This trade represents a 11.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the sale, the director owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.20% of the company’s stock.

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.