Modern Wealth Management LLC Invests $576,000 in Nu Holdings Ltd. $NU

Modern Wealth Management LLC acquired a new position in shares of Nu Holdings Ltd. (NYSE:NU) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 39,903 shares of the company’s stock, valued at approximately $576,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Maxi Investments CY Ltd increased its position in shares of NU by 85.5% during the fourth quarter. Maxi Investments CY Ltd now owns 783,000 shares of the company’s stock valued at $13,107,000 after acquiring an additional 361,000 shares during the last quarter. C WorldWide Group Holding A S lifted its holdings in shares of NU by 1,045.3% in the 4th quarter. C WorldWide Group Holding A S now owns 311,792 shares of the company’s stock worth $5,219,000 after acquiring an additional 284,569 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of NU by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company’s stock worth $415,401,000 after acquiring an additional 1,037,438 shares during the last quarter. Genoa Capital Gestora de Recursos Ltda. acquired a new position in shares of NU in the 4th quarter worth approximately $3,869,000. Finally, Danske Bank A S boosted its position in shares of NU by 515.0% during the 4th quarter. Danske Bank A S now owns 5,074,732 shares of the company’s stock worth $84,951,000 after purchasing an additional 4,249,632 shares during the period. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

NU Price Performance

NU stock opened at $14.49 on Tuesday. The firm has a market cap of $70.34 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95. Nu Holdings Ltd. has a 52-week low of $11.20 and a 52-week 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’s 50 day moving average is $13.06 and its two-hundred day moving average is $14.65.

NU (NYSE:NU) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. On average, research analysts expect that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

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

Insider Activity

In other news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction 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 sale, the director directly owned 162,150 shares in the company, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NU shares. JPMorgan Chase & Co. lifted their target price on shares of NU from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Needham & Company LLC initiated coverage on NU in a research note on Friday, June 26th. They set a “buy” rating and a $17.00 price target on the stock. Bank of America restated an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Weiss Ratings cut NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Finally, Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.