JPMorgan Chase & Co. Forecasts Strong Price Appreciation for NU (NYSE:NU) Stock

NU (NYSE:NU) had its price objective raised by analysts at JPMorgan Chase & Co. from $20.00 to $23.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 47.86% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Susquehanna lifted their price target on shares of NU from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. UBS Group upped their target price on shares of NU from $16.90 to $18.20 and gave the company a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings downgraded NU from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Wolfe Research reduced their price target on NU from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NU in a research note on Monday, September 28th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.29.

NU Trading Up 2.5%

NU traded up $0.38 during mid-day trading on Tuesday, reaching $15.55. The stock had a trading volume of 75,709,021 shares, compared to its average volume of 64,468,258. The firm’s fifty day simple moving average is $14.29 and its two-hundred day simple moving average is $13.84. The stock has a market capitalization of $75.53 billion, a P/E ratio of 21.03, a P/E/G ratio of 0.55 and a beta of 0.95. NU has a 52 week low of $11.20 and a 52 week high of $18.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.55.

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

Insider Transactions at NU

In other NU 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 value of $3,505,187.67. Following the sale, the insider directly owned 979,446 shares in the company, valued at approximately $15,485,041.26. The trade was a 18.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cristina Junqueira sold 65,000 shares of NU stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total value of $956,150.00. Following the completion of the sale, the chief executive officer directly owned 2,542,083 shares in the company, valued at approximately $37,394,040.93. This represents a 2.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 361,707 shares of company stock worth $5,626,338.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Harbor Investment Advisory LLC grew its stake in NU by 68.2% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,010 shares of the company’s stock valued at $40,000 after buying an additional 1,220 shares during the last quarter. Jessup Wealth Management Inc bought a new stake in shares of NU during the fourth quarter worth approximately $74,000. Whipplewood Advisors LLC grew its position in shares of NU by 1,584.0% in the first quarter. Whipplewood Advisors LLC now owns 5,052 shares of the company’s stock valued at $73,000 after purchasing an additional 4,752 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of NU during the second quarter worth approximately $76,000. Finally, EverSource Wealth Advisors LLC boosted its stake in NU by 58.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,468 shares of the company’s stock valued at $93,000 after purchasing an additional 2,377 shares during the period. 84.02% of the stock is owned by institutional investors and hedge funds.

About NU

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

Nubank was founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible with the goal of expanding access to simpler, lower-cost financial services through technology.