Andra AP fonden Boosts Stock Position in Nu Holdings Ltd. $NU

Andra AP fonden boosted its position in Nu Holdings Ltd. (NYSE:NU) by 17.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,736,700 shares of the company’s stock after buying an additional 411,500 shares during the quarter. Andra AP fonden’s holdings in NU were worth $36,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NU. Norges Bank purchased a new stake in shares of NU in the 4th quarter valued at $763,792,000. Larch Capital Partners LLC bought a new stake in NU in the fourth quarter worth $605,829,000. Squadra Investments Gestao DE Recursos LTDA. boosted its position in NU by 266.8% during the first quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company’s stock valued at $320,631,000 after buying an additional 16,229,515 shares during the period. Bank of Nova Scotia grew its stake in shares of NU by 855.9% during the first quarter. Bank of Nova Scotia now owns 16,111,616 shares of the company’s stock valued at $231,524,000 after buying an additional 14,426,181 shares during the last quarter. Finally, Maverick Capital Ltd. grew its stake in shares of NU by 91.6% during the first quarter. Maverick Capital Ltd. now owns 22,444,311 shares of the company’s stock valued at $322,525,000 after buying an additional 10,729,747 shares during the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other NU news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $15.81, for a total value of $3,505,187.67. Following the completion of the sale, the insider directly owned 979,446 shares in the company, 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 filing with the SEC, which is available at this link. Also, CEO Cristina Junqueira sold 65,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total value of $956,150.00. Following the transaction, the chief executive officer owned 2,542,083 shares in the company, valued at $37,394,040.93. This trade represents a 2.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 361,707 shares of company stock valued at $5,626,338 over the last 90 days.

Wall Street Analyst Weigh In

NU has been the subject of a number of recent research reports. Susquehanna boosted their target price on NU from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of NU in a research note on Friday, September 11th. UBS Group boosted their price objective on NU from $16.90 to $18.20 and gave the company a “buy” rating in a research report on Thursday, August 20th. Wolfe Research dropped their price objective on NU from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, August 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.92.

NU Trading Down 0.9%

NU stock traded down $0.13 during mid-day trading on Tuesday, reaching $13.93. 26,529,430 shares of the company traded hands, compared to its average volume of 62,490,285. 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 Holdings Ltd. has a 52-week low of $11.20 and a 52-week high of $18.98. The firm has a market capitalization of $67.65 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 0.56 and a beta of 0.94. The firm’s 50 day moving average price is $14.43 and its 200 day moving average price is $13.92.

NU (NYSE:NU) last posted its earnings results on Tuesday, June 30th. The company reported $0.22 EPS for the quarter. The firm 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%. On average, analysts anticipate that Nu Holdings Ltd. will post 0.86 earnings per share for the current fiscal year.

NU announced that its Board of Directors 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 reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

NU Company Profile

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.