Swiss National Bank Reduces Position in Nu Holdings Ltd. $NU

Swiss National Bank lessened its stake in Nu Holdings Ltd. (NYSE:NU) by 11.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,558,513 shares of the company’s stock after selling 859,100 shares during the period. Swiss National Bank’s holdings in NU were worth $94,246,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NU. Sowell Financial Services LLC raised its holdings in shares of NU by 4.8% during the 4th quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock worth $217,000 after acquiring an additional 599 shares during the period. Parallel Advisors LLC increased its position in NU by 3.7% during the fourth quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock worth $282,000 after purchasing an additional 601 shares during the last quarter. MBM Wealth Consultants LLC raised its stake in NU by 1.2% during the fourth quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock worth $842,000 after purchasing an additional 607 shares during the period. Cornerstone Wealth Group LLC boosted its holdings in NU by 1.2% in the 4th quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock valued at $866,000 after purchasing an additional 621 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its holdings in NU by 3.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock valued at $318,000 after purchasing an additional 624 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NU shares. JPMorgan Chase & Co. upped their price objective on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Susquehanna lowered shares of NU from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $13.00 in a report on Wednesday, June 3rd. Bank of America reaffirmed an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. Finally, Needham & Company LLC began coverage on NU in a research report on Friday, June 26th. They issued a “buy” rating and a $17.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.24.

Insider Buying and Selling at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NU Trading Up 3.2%

NU opened at $14.03 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The company has a market cap of $68.13 billion, a P/E ratio of 21.59, a PEG ratio of 0.54 and a beta of 0.95. The business’s 50-day simple moving average is $12.90 and its 200-day simple moving average is $14.75.

NU (NYSE:NU) last announced its quarterly 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 company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.06 billion. As a group, equities research analysts expect that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

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

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.