Lansforsakringar Fondforvaltning AB publ Lowers Stake in Nu Holdings Ltd. $NU

Lansforsakringar Fondforvaltning AB publ lessened its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 9.2% during the first quarter, HoldingsChannel reports. The firm owned 671,385 shares of the company’s stock after selling 67,870 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in NU were worth $9,648,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Janney Montgomery Scott LLC increased its stake in NU by 2.5% in the first quarter. Janney Montgomery Scott LLC now owns 135,474 shares of the company’s stock valued at $1,947,000 after purchasing an additional 3,314 shares during the last quarter. J2 Capital Management Inc grew its holdings in NU by 28.4% in the 1st quarter. J2 Capital Management Inc now owns 43,626 shares of the company’s stock valued at $627,000 after buying an additional 9,638 shares during the period. MBM Wealth Consultants LLC increased its stake in shares of NU by 6.3% during the 1st quarter. MBM Wealth Consultants LLC now owns 53,476 shares of the company’s stock valued at $768,000 after acquiring an additional 3,192 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of NU by 47.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 369,609 shares of the company’s stock worth $5,311,000 after acquiring an additional 119,281 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of NU by 17.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 32,535,091 shares of the company’s stock worth $467,529,000 after acquiring an additional 4,944,618 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NU. Itau BBA Securities restated an “outperform” rating on shares of NU in a report on Tuesday, March 17th. Weiss Ratings downgraded shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price target on the stock. in a report on Wednesday, June 3rd. CICC Research assumed coverage on shares of NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Bank of America restated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, NU currently has an average rating of “Moderate Buy” and an average price target of $17.07.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction of $257,040.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

NU Trading Up 0.3%

Shares of NU stock opened at $13.39 on Thursday. The stock has a market cap of $65.04 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 0.53 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. Nu Holdings Ltd. has a fifty-two week low of $11.20 and a fifty-two week high of $18.98. The firm’s 50 day moving average price is $13.06 and its two-hundred day moving average price is $15.01.

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

NU announced that its board has initiated a share repurchase plan on Thursday, June 4th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

NU Company 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.