Renaissance Technologies LLC Sells 6,465,460 Shares of Nu Holdings Ltd. $NU

Renaissance Technologies LLC decreased its holdings in Nu Holdings Ltd. (NYSE:NU) by 28.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,269,800 shares of the company’s stock after selling 6,465,460 shares during the quarter. Renaissance Technologies LLC’s holdings in NU were worth $233,798,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several analysts have commented on NU shares. JPMorgan Chase & Co. raised their price objective on shares of NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. UBS Group decreased their target price on NU from $18.10 to $16.90 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Weiss Ratings cut NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. CICC Research initiated coverage on NU in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, Susquehanna cut NU from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $13.00 in a research note on Wednesday, June 3rd. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.24.

Insider Buying and Selling at NU

In related news, Director Anita M. Sands sold 21,000 shares of the firm’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 transaction of $257,040.00. Following the completion of the transaction, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

NU Trading Down 0.5%

NYSE:NU opened at $14.12 on Friday. The firm has a market capitalization of $68.54 billion, a P/E ratio of 21.72, a PEG ratio of 0.57 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick 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’s 50-day simple moving average is $13.02 and its 200 day simple moving average is $14.69.

NU (NYSE:NU) last announced its 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 business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. As a group, analysts forecast 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 program on Thursday, June 4th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is 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.