NU (NYSE:NU) Sees Unusually-High Trading Volume – Here’s What Happened

Nu Holdings Ltd. (NYSE:NU) shares saw unusually-high trading volume on Wednesday . Approximately 132,805,299 shares traded hands during mid-day trading, an increase of 133% from the previous session’s volume of 56,943,941 shares.The stock last traded at $14.0050 and had previously closed at $13.99.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NU. Susquehanna cut NU from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $13.00 in a research note on Wednesday, June 3rd. UBS Group cut their price objective on NU from $18.10 to $16.90 and set a “buy” rating for the company in a report on Wednesday, May 20th. Weiss Ratings downgraded shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Scotiabank lowered NU to a “sector perform” rating and set a $13.00 target price for the company. in a report on Wednesday, June 3rd. Finally, Needham & Company LLC assumed coverage on shares of NU in a research note on Friday, June 26th. They issued a “buy” rating and a $17.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NU currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.24.

NU Stock Down 0.7%

The firm has a 50 day moving average of $12.89 and a 200-day moving average of $14.79. 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 stock has a market capitalization 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 released its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share (EPS) 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 firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. On average, equities research analysts expect that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU declared that its Board of Directors has initiated a share buyback program on Thursday, June 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the sale, the director owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Trading of NU

Several large investors have recently made changes to their positions in NU. EverSource Wealth Advisors LLC raised its stake in shares of NU by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock worth $52,000 after acquiring an additional 1,464 shares during the last quarter. Jump Financial LLC lifted its position in NU by 541.8% during the 2nd quarter. Jump Financial LLC now owns 185,434 shares of the company’s stock valued at $2,544,000 after purchasing an additional 156,539 shares during the period. WINTON GROUP Ltd raised its stake in shares of NU by 38.5% during the second quarter. WINTON GROUP Ltd now owns 37,156 shares of the company’s stock worth $510,000 after buying an additional 10,332 shares during the last quarter. AXA S.A. grew its holdings in NU by 1.4% during the 2nd quarter. AXA S.A. now owns 192,311 shares of the company’s stock worth $2,639,000 after acquiring an additional 2,682 shares during the period. Finally, Nebula Research & Development LLC boosted its position in shares of NU by 63.7% in the 2nd quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock worth $274,000 after purchasing an additional 7,760 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

About NU

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.