NU (NYSE:NU) Earns “Buy” Rating from Needham & Company LLC

NU (NYSE:NU)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued to investors on Friday, MarketBeat reports. They presently have a $19.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 26.47% from the company’s current price.

NU has been the subject of several other research reports. UBS Group upped their target price on shares of NU from $16.90 to $18.20 and gave the stock a “buy” rating in a report on Thursday, August 20th. Weiss Ratings cut NU from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 21st. JPMorgan Chase & Co. boosted their price objective on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Susquehanna upped their price objective on NU from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. Finally, Wolfe Research cut their target price on NU from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, August 25th. Nine research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.91.

NU Price Performance

Shares of NYSE:NU opened at $15.02 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.55. NU has a 1-year low of $11.20 and a 1-year high of $18.98. The company has a market capitalization of $72.95 billion, a P/E ratio of 20.30, a P/E/G ratio of 0.61 and a beta of 0.94. The firm’s 50 day simple moving average is $14.37 and its two-hundred day simple moving average is $13.99.

NU (NYSE:NU) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.22 earnings per share for the quarter. The business had revenue of $5.88 billion during the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. Research analysts expect that NU will post 0.86 EPS for the current fiscal year.

NU declared that its board has approved a stock repurchase program on Thursday, June 4th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Cristina Junqueira sold 65,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total transaction of $956,150.00. Following the completion of the transaction, the chief executive officer directly owned 2,542,083 shares of the company’s stock, valued at approximately $37,394,040.93. This trade represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the insider owned 979,446 shares in the company, valued at approximately $15,485,041.26. This represents a 18.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 361,707 shares of company stock valued at $5,626,338. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its holdings in shares of NU by 2.4% in the second quarter. Sequoia Financial Advisors LLC now owns 201,341 shares of the company’s stock worth $2,690,000 after purchasing an additional 4,664 shares during the last quarter. IPG Investment Advisors LLC boosted its stake in NU by 12.0% during the second quarter. IPG Investment Advisors LLC now owns 83,026 shares of the company’s stock valued at $1,109,000 after buying an additional 8,880 shares during the last quarter. National Pension Service boosted its stake in NU by 40.6% during the second quarter. National Pension Service now owns 1,225,677 shares of the company’s stock valued at $16,375,000 after buying an additional 353,752 shares during the last quarter. C WorldWide Group Holding A S grew its holdings in NU by 1,188.4% during the 2nd quarter. C WorldWide Group Holding A S now owns 4,973,457 shares of the company’s stock valued at $66,445,000 after buying an additional 4,587,432 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in NU by 15.2% during the 2nd quarter. NewEdge Advisors LLC now owns 41,035 shares of the company’s stock valued at $548,000 after buying an additional 5,410 shares in the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

About NU

Nu Holdings Ltd., operating under the Nubank brand, is a digital financial services company that provides banking, payments and credit products through mobile applications. Its offerings include digital bank accounts, credit cards, personal loans, payment services, investment products and insurance, serving consumers and small businesses.

Founded in Brazil in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nubank was established to simplify financial services and expand access to banking through technology.