Ieq Capital LLC Decreases Holdings in Nu Holdings Ltd. $NU

Ieq Capital LLC trimmed its position in shares of Nu Holdings Ltd. (NYSE:NU) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,574,388 shares of the company’s stock after selling 272,972 shares during the quarter. Ieq Capital LLC’s holdings in NU were worth $76,575,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NU. LOM Asset Management Ltd purchased a new position in shares of NU during the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of NU by 14,810.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock valued at $25,000 after buying an additional 1,481 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of NU by 5,448.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock valued at $27,000 after buying an additional 1,580 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of NU during the 4th quarter valued at about $27,000. Finally, Morse Asset Management Inc purchased a new position in shares of NU during the 4th quarter valued at about $31,000. 84.02% of the stock is owned by hedge funds and other institutional investors.

NU Price Performance

Shares of NU stock opened at $12.16 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58. The business’s 50 day simple moving average is $13.58 and its two-hundred day simple moving average is $15.40. The stock has a market capitalization of $59.06 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 0.48 and a beta of 0.95. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98.

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

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

Insider Activity at NU

In other news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.81, for a total transaction 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. The trade was a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 21,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the transaction, the director directly owned 162,150 shares in the company, valued at $1,984,716. This trade represents a 11.47% 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 insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NU. Bank of America reissued an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Scotiabank cut NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. CICC Research started coverage on NU in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Weiss Ratings cut NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Finally, UBS Group decreased their price target on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Nine investment 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, the company has a consensus rating of “Moderate Buy” and an average target price of $17.08.

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.