Nu Holdings Ltd. $NU Position Boosted by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. grew its position in Nu Holdings Ltd. (NYSE:NU) by 24.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,973,549 shares of the company’s stock after purchasing an additional 3,570,451 shares during the period. NU makes up approximately 11.8% of Coronation Fund Managers Ltd.’s holdings, making the stock its 2nd largest holding. Coronation Fund Managers Ltd.’s holdings in NU were worth $258,280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sowell Financial Services LLC lifted its position in NU by 4.8% during the fourth quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock valued at $217,000 after buying an additional 599 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of NU by 3.7% in the 4th quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock valued at $282,000 after acquiring an additional 601 shares during the period. MBM Wealth Consultants LLC raised its stake in shares of NU by 1.2% in the 4th quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock valued at $842,000 after acquiring an additional 607 shares during the period. Cornerstone Wealth Group LLC lifted its holdings in shares of NU by 1.2% during the 4th quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock valued at $866,000 after acquiring an additional 621 shares in the last quarter. Finally, Aptus Capital Advisors LLC boosted 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 purchasing an additional 624 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.

Analyst Upgrades and Downgrades

NU has been the subject of several recent research reports. Needham & Company LLC began coverage on NU in a report on Friday, June 26th. They issued a “buy” rating and a $17.00 price target for the company. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 target price for the company. in a research report on Wednesday, June 3rd. Susquehanna lowered 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. UBS Group reduced their price target on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Finally, CICC Research assumed coverage on shares of NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NU currently has an average rating of “Moderate Buy” and an average price target of $17.24.

Insider Activity

In other news, Director Anita M. Sands sold 21,000 shares of the company’s 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 in the company, valued at approximately $1,984,716. This represents a 11.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

NU Trading Up 0.8%

NYSE:NU opened at $14.51 on Thursday. The stock has a market cap of $70.45 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 0.58 and a beta of 0.95. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. The business’s 50-day simple moving average is $12.96 and its 200 day simple moving average is $14.72.

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 the consensus estimate 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 analysts’ expectations of $5.06 billion. As a group, sell-side analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU declared that its Board of Directors has initiated a share buyback program on Thursday, June 4th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is 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.