Cullen Capital Management LLC Invests $2.17 Million in Nu Holdings Ltd. $NU

Cullen Capital Management LLC bought a new position in shares of Nu Holdings Ltd. (NYSE:NU) in the second quarter, Holdings Channel reports. The institutional investor bought 162,115 shares of the company’s stock, valued at approximately $2,166,000.

Several other institutional investors have also recently added to or reduced their stakes in NU. Madison Asset Management LLC bought a new stake in NU during the second quarter worth about $3,748,000. Flossbach Von Storch SE bought a new position in shares of NU in the second quarter valued at approximately $5,344,000. Handelsbanken Fonder AB raised its stake in shares of NU by 5.6% in the second quarter. Handelsbanken Fonder AB now owns 2,770,572 shares of the company’s stock valued at $37,015,000 after acquiring an additional 146,764 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of NU in the 2nd quarter worth approximately $226,000. Finally, Legacy Wealth Asset Management LLC boosted its holdings in shares of NU by 1.9% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 50,790 shares of the company’s stock worth $679,000 after acquiring an additional 935 shares in the last quarter. 84.02% of the stock is owned by institutional investors.

Insider Buying and Selling at NU

In other news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of NU stock in a transaction on Friday, August 14th. The shares were sold at an average price of $15.81, for a total transaction of $3,505,187.67. Following the transaction, the insider directly owned 979,446 shares of the company’s stock, valued at $15,485,041.26. This trade represents a 18.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Cristina Helena Zing Junqueira sold 50,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $15.80, for a total transaction of $790,000.00. Following the completion of the transaction, the chief executive officer directly owned 4,927,593 shares of the company’s stock, valued at $77,855,969.40. This trade represents a 1.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Scotiabank cut NU to a “sector perform” rating and set a $13.00 price target for the company. in a report on Wednesday, June 3rd. UBS Group boosted their price objective on NU from $16.90 to $18.20 and gave the stock a “buy” rating in a research note on Thursday. Bank of America restated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Weiss Ratings cut NU from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NU currently has an average rating of “Moderate Buy” and an average target price of $18.02.

NU Price Performance

Shares of NU opened at $14.74 on Tuesday. The stock has a market cap of $71.60 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 0.57 and a beta of 0.94. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The stock’s 50-day moving average price is $13.82 and its two-hundred day moving average price is $14.19. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35.

NU (NYSE:NU) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 earnings per share for the quarter. The business had revenue of $5.88 billion for the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. On average, equities analysts predict that Nu Holdings Ltd. will post 0.86 earnings per share for the current year.

NU declared that its board has authorized a share repurchase program on Thursday, June 4th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.