Nu Holdings Ltd. $NU Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 8.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,850,092 shares of the company’s stock after selling 3,520,699 shares during the period. Jennison Associates LLC owned approximately 0.74% of NU worth $515,166,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in shares of NU by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock valued at $52,000 after purchasing an additional 1,464 shares during the period. Jump Financial LLC lifted its holdings in shares of NU by 541.8% during the second quarter. Jump Financial LLC now owns 185,434 shares of the company’s stock worth $2,544,000 after purchasing an additional 156,539 shares during the period. WINTON GROUP Ltd lifted its holdings in shares of NU by 38.5% during the second quarter. WINTON GROUP Ltd now owns 37,156 shares of the company’s stock worth $510,000 after purchasing an additional 10,332 shares during the period. AXA S.A. boosted its position in NU by 1.4% in the second quarter. AXA S.A. now owns 192,311 shares of the company’s stock valued at $2,639,000 after buying an additional 2,682 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its position in NU by 63.7% in the second quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock valued at $274,000 after buying an additional 7,760 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Insider Buying and Selling

In other NU news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the transaction, the director owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

NU Trading Down 1.3%

NU stock opened at $13.60 on Friday. The firm has a market cap of $66.06 billion, a PE ratio of 20.93, a P/E/G ratio of 0.54 and a beta of 0.95. Nu Holdings Ltd. has a 12 month low of $11.20 and a 12 month high of $18.98. The stock’s 50 day simple moving average is $12.89 and its two-hundred day simple moving average is $14.78. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36.

NU (NYSE:NU) last posted its earnings results on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Analysts anticipate that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

NU announced that its board has approved a share buyback plan on Thursday, June 4th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Needham & Company LLC began coverage on shares of NU in a research note on Friday, June 26th. They issued a “buy” rating and a $17.00 price objective on the stock. UBS Group decreased their target price on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price target on the stock. in a report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their price target on NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, CICC Research began coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. 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’s stock. According to data from MarketBeat.com, NU currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.24.

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.