Nu Holdings Ltd. $NU Stake Boosted by Maverick Capital Ltd.

Maverick Capital Ltd. increased its position in Nu Holdings Ltd. (NYSE:NU) by 91.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 22,444,311 shares of the company’s stock after buying an additional 10,729,747 shares during the period. NU comprises approximately 3.7% of Maverick Capital Ltd.’s holdings, making the stock its 6th largest position. Maverick Capital Ltd.’s holdings in NU were worth $322,525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NU. Norges Bank bought a new position in shares of NU during the 4th quarter valued at about $763,792,000. Larch Capital Partners LLC bought a new position in shares of NU during the 4th quarter valued at approximately $605,829,000. Jennison Associates LLC raised its stake in shares of NU by 82.6% in the fourth quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock valued at $659,067,000 after acquiring an additional 17,809,644 shares during the period. Atmos Capital Gestao DE Recursos LTDA. raised its position 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 purchasing an additional 15,552,726 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of NU by 98.4% during the 3rd quarter. Marshall Wace LLP now owns 29,141,505 shares of the company’s stock worth $466,555,000 after acquiring an additional 14,449,834 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

NU Trading Up 2.8%

NU stock opened at $14.49 on Tuesday. The firm has a market cap of $70.34 billion, a P/E ratio of 22.29, a PEG ratio of 0.56 and a beta of 0.95. The company’s 50-day simple moving average is $13.06 and its 200-day simple moving average is $14.65. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. Nu Holdings Ltd. has a 52-week low of $11.20 and a 52-week high of $18.98.

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). The company had revenue of $5.32 billion for 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%. As a group, equities analysts forecast that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU declared that its Board of Directors has approved a share repurchase program on Thursday, June 4th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

NU has been the subject of a number of research reports. UBS Group lowered their price target on NU from $18.10 to $16.90 and set a “buy” rating for the company in a report on Wednesday, May 20th. JPMorgan Chase & Co. boosted their price objective on shares of NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Needham & Company LLC began coverage on NU in a research note on Friday, June 26th. They issued a “buy” rating and a $17.00 price target for the company. Scotiabank cut shares of NU to a “sector perform” rating and set a $13.00 price target for the company. in a report on Wednesday, June 3rd. Finally, Bank of America restated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.24.

Insider Buying and Selling at NU

In related 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 transaction of $257,040.00. Following the completion of the sale, the director owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NU Company 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.