Wellington Management Group LLP Grows Holdings in Nu Holdings Ltd. $NU

Wellington Management Group LLP increased its stake in Nu Holdings Ltd. (NYSE:NU) by 27.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,432,803 shares of the company’s stock after acquiring an additional 1,175,269 shares during the quarter. Wellington Management Group LLP’s holdings in NU were worth $72,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NU. Maxi Investments CY Ltd raised its position in shares of NU by 85.5% in the 4th quarter. Maxi Investments CY Ltd now owns 783,000 shares of the company’s stock worth $13,107,000 after acquiring an additional 361,000 shares in the last quarter. C WorldWide Group Holding A S increased its holdings in shares of NU by 1,045.3% during the fourth quarter. C WorldWide Group Holding A S now owns 311,792 shares of the company’s stock valued at $5,219,000 after acquiring an additional 284,569 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of NU by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company’s stock worth $415,401,000 after buying an additional 1,037,438 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in NU by 990.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 298,789 shares of the company’s stock worth $4,294,000 after acquiring an additional 271,385 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of NU by 77.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 259,796 shares of the company’s stock worth $4,349,000 after purchasing an additional 113,392 shares during the last quarter. 84.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NU. Susquehanna raised their target price on shares of NU from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Needham & Company LLC upped their target price on NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 price target for the company. in a research report on Wednesday, June 3rd. Bank of America restated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.91.

NU Stock Up 6.3%

Shares of NU opened at $15.37 on Thursday. The stock has a market capitalization of $74.63 billion, a PE ratio of 20.77, a P/E/G ratio of 0.56 and a beta of 0.94. 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 0.35, a quick ratio of 0.55 and a current ratio of 0.55. The company’s 50-day simple moving average is $14.12 and its 200-day simple moving average is $14.07.

NU (NYSE:NU) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.22 EPS for the quarter. The business had revenue of $5.88 billion during the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. Analysts forecast that Nu Holdings Ltd. will post 0.86 earnings per share for the current fiscal year.

NU declared that its board has initiated a share repurchase program on Thursday, June 4th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Cristina Helena Zing Junqueira sold 65,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total transaction of $956,150.00. Following the completion of the transaction, the chief executive officer directly owned 2,542,083 shares of the company’s stock, valued at approximately $37,394,040.93. This represents a 2.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 979,446 shares of the company’s stock, valued at $15,485,041.26. This trade represents a 18.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 361,707 shares of company stock valued at $5,626,338 in the last quarter. 1.20% of the stock is owned by insiders.

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.