Resona Asset Management Co. Ltd. Sells 41,886 Shares of Nu Holdings Ltd. $NU

Resona Asset Management Co. Ltd. reduced its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 865,762 shares of the company’s stock after selling 41,886 shares during the period. Resona Asset Management Co. Ltd.’s holdings in NU were worth $14,482,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LOM Asset Management Ltd bought a new position in shares of NU in the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its holdings in shares of NU by 5,448.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock valued at $27,000 after acquiring an additional 1,580 shares in the last quarter. Morse Asset Management Inc bought a new position in shares of NU in the fourth quarter valued at approximately $31,000. Fifth Third Bancorp grew its holdings in shares of NU by 433.0% in the fourth quarter. Fifth Third Bancorp now owns 1,988 shares of the company’s stock valued at $33,000 after acquiring an additional 1,615 shares in the last quarter. Finally, VSM Wealth Advisory LLC grew its holdings in shares of NU by 1,000.0% in the third quarter. VSM Wealth Advisory LLC now owns 3,300 shares of the company’s stock valued at $53,000 after acquiring an additional 3,000 shares in the last quarter. 84.02% of the stock is owned by institutional investors.

Insider Buying and Selling at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction of $257,040.00. Following the completion of the transaction, the director directly owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total value of $4,443,000.00. Following the transaction, the chief executive officer directly owned 2,312,338 shares of the company’s stock, valued at approximately $34,245,725.78. This trade represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NU shares. UBS Group reduced their target price on NU from $18.10 to $16.90 and set a “buy” rating for the company in a report on Wednesday. Bank of America reaffirmed a “neutral” rating on shares of NU in a report on Monday, March 9th. Susquehanna upped their target price on NU from $19.00 to $22.00 and gave the company a “positive” rating in a report on Tuesday, January 27th. Zacks Research lowered NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.39.

NU Price Performance

Shares of NYSE NU opened at $12.79 on Thursday. The stock has a fifty day simple moving average of $14.18 and a two-hundred day simple moving average of $15.81. Nu Holdings Ltd. has a 1-year low of $11.71 and a 1-year high of $18.98. The firm has a market cap of $62.09 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 0.50 and a beta of 1.01. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36.

NU (NYSE:NU) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. Analysts anticipate that Nu Holdings Ltd. will post 0.84 earnings per share for the current year.

NU 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.