C WorldWide Group Holding A S Boosts Position in Nu Holdings Ltd. $NU

C WorldWide Group Holding A S lifted its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 23.8% in the first quarter, Holdings Channel.com reports. The fund owned 386,025 shares of the company’s stock after purchasing an additional 74,233 shares during the period. C WorldWide Group Holding A S’s holdings in NU were worth $5,547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NU. Baillie Gifford & Co. boosted its holdings in NU by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock valued at $4,306,481,000 after acquiring an additional 5,797,365 shares in the last quarter. Morgan Stanley raised its holdings in NU by 2.9% in the 4th quarter. Morgan Stanley now owns 121,350,701 shares of the company’s stock worth $2,031,411,000 after purchasing an additional 3,419,077 shares in the last quarter. State Street Corp raised its holdings in NU by 0.3% in the 3rd quarter. State Street Corp now owns 91,478,395 shares of the company’s stock worth $1,464,569,000 after purchasing an additional 239,660 shares in the last quarter. Norges Bank purchased a new stake in shares of NU in the 4th quarter worth about $763,792,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of NU by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,602,086 shares of the company’s stock worth $713,160,000 after purchasing an additional 4,215,824 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Analysts Set New Price Targets

NU has been the topic of several research analyst reports. CICC Research initiated coverage on shares of NU in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target on the stock. Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Zacks Research cut NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. JPMorgan Chase & Co. lifted their price objective on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Needham & Company LLC initiated coverage on NU in a report on Friday, June 26th. They set 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 given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.24.

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $12.24, for a total value of $257,040.00. Following the sale, the director directly owned 162,150 shares of the company’s stock, valued at $1,984,716. The trade was a 11.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

NU Trading Down 0.7%

Shares of NYSE NU opened at $13.78 on Friday. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. 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 firm has a 50-day moving average of $12.89 and a 200 day moving average of $14.79. The stock has a market cap of $66.92 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95.

NU (NYSE:NU) last announced its quarterly earnings data 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 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 analysts’ expectations of $5.06 billion. As a group, sell-side analysts expect that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU declared that its Board of Directors has initiated a share buyback plan on Thursday, June 4th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.