Hsbc Holdings PLC Sells 144,083 Shares of Nu Holdings Ltd. $NU

Hsbc Holdings PLC trimmed its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 9.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,430,470 shares of the company’s stock after selling 144,083 shares during the period. Hsbc Holdings PLC’s holdings in NU were worth $24,024,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of NU during the 4th quarter worth approximately $763,792,000. Larch Capital Partners LLC bought a new stake in NU in the fourth quarter valued at $605,829,000. Lone Pine Capital LLC bought a new stake in NU in the third quarter valued at $406,757,000. Jennison Associates LLC raised its stake in NU by 82.6% during the fourth quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock worth $659,067,000 after acquiring an additional 17,809,644 shares in the last quarter. Finally, Atmos Capital Gestao DE Recursos LTDA. raised its stake in NU by 109.1% during the fourth quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 29,813,810 shares of the company’s stock worth $499,083,000 after acquiring an additional 15,552,726 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NU news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction of $257,040.00. Following the sale, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. This represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

NU Price Performance

NU stock opened at $12.45 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $60.44 billion, a P/E ratio of 19.15, a P/E/G ratio of 0.50 and a beta of 0.95. The business’s fifty day moving average is $13.29 and its two-hundred day moving average is $15.13. Nu Holdings Ltd. has a 52 week low of $11.20 and a 52 week high of $18.98.

NU (NYSE:NU) last announced its earnings results on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. Equities research analysts forecast that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU announced that its board has approved a stock buyback plan on Thursday, June 4th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently commented on NU shares. Susquehanna downgraded shares of NU from a “positive” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $13.00 in a research note on Wednesday, June 3rd. Zacks Research cut shares of NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Itau BBA Securities reissued an “outperform” rating on shares of NU in a report on Tuesday, March 17th. UBS Group reduced their price target on shares of NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Finally, Bank of America reaffirmed an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Nine investment 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’s stock. According to data from MarketBeat.com, NU presently has a consensus rating of “Moderate Buy” and an average price target of $17.08.

About NU

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.