NU (NYSE:NU) Coverage Initiated by Analysts at Monness Crespi & Hardt

Equities researchers at Monness Crespi & Hardt began coverage on shares of NU (NYSE:NU) in a research note issued on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Monness Crespi & Hardt‘s price target would suggest a potential upside of 31.72% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Itau BBA Securities cut NU from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $20.00 to $18.00 in a report on Wednesday, September 16th. Wolfe Research dropped their target price on NU from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, August 25th. JPMorgan Chase & Co. upped their target price on NU from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of NU in a research note on Monday, September 28th. Finally, Weiss Ratings cut shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, NU currently has an average rating of “Moderate Buy” and an average price target of $18.25.

NU Stock Performance

NU stock opened at $15.18 on Monday. The firm’s fifty day moving average price is $14.57 and its 200-day moving average price is $13.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $73.73 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. NU has a fifty-two week low of $11.20 and a fifty-two week high of $18.98.

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

Insider Buying and Selling at NU

In other NU news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the business’s 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 completion of the sale, the insider directly owned 979,446 shares of the company’s stock, valued at $15,485,041.26. The trade was a 18.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Cristina Junqueira sold 25,000 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $15.01, for a total transaction of $375,250.00. Following the sale, the chief executive officer owned 4,877,593 shares of the company’s stock, valued at approximately $73,212,670.93. The trade was a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 386,707 shares of company stock valued at $6,001,588 over the last three months.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its position in shares of NU by 127.0% during the third quarter. Assenagon Asset Management S.A. now owns 38,263,897 shares of the company’s stock valued at $484,421,000 after buying an additional 21,405,374 shares during the period. Squadra Investments Gestao DE Recursos LTDA. raised its stake in NU by 266.8% in the first quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company’s stock worth $320,631,000 after buying an additional 16,229,515 shares in the last quarter. Bank of Nova Scotia raised its stake in NU by 855.9% in the first quarter. Bank of Nova Scotia now owns 16,111,616 shares of the company’s stock worth $231,524,000 after buying an additional 14,426,181 shares in the last quarter. Maverick Capital Ltd. lifted its holdings in NU by 91.6% in the first quarter. Maverick Capital Ltd. now owns 22,444,311 shares of the company’s stock worth $322,525,000 after buying an additional 10,729,747 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in NU by 444.1% in the first quarter. Hsbc Holdings PLC now owns 7,782,758 shares of the company’s stock worth $111,555,000 after buying an additional 6,352,288 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Company Profile

Nubank (NYSE: NU) is a digital financial services company headquartered in São Paulo, Brazil. Founded in 2013, the company was established to simplify banking through technology and expand access to financial services in markets traditionally served by large, conventional institutions.

Nubank offers a range of consumer and business products, including digital bank accounts, credit cards, personal loans, payment services, investment products and insurance. Its platform is designed to allow customers to manage accounts, payments and other financial products through mobile applications and other digital channels.

The company primarily serves customers in Brazil, Mexico and Colombia.