Rakuten Investment Management Inc. bought a new stake in Nu Holdings Ltd. (NYSE:NU - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 217,373 shares of the company's stock, valued at approximately $2,685,000.
Several other hedge funds have also modified their holdings of the stock. GK Wealth Management LLC purchased a new position in NU in the 3rd quarter worth approximately $31,000. Harbor Investment Advisory LLC grew its position in NU by 68.2% in the second quarter. Harbor Investment Advisory LLC now owns 3,010 shares of the company's stock valued at $40,000 after acquiring an additional 1,220 shares in the last quarter. Whipplewood Advisors LLC grew its position in NU by 1,584.0% in the first quarter. Whipplewood Advisors LLC now owns 5,052 shares of the company's stock valued at $73,000 after acquiring an additional 4,752 shares in the last quarter. Ancora Advisors LLC acquired a new stake in NU in the second quarter valued at approximately $76,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of NU by 58.1% during the first quarter. EverSource Wealth Advisors LLC now owns 6,468 shares of the company's stock valued at $93,000 after purchasing an additional 2,377 shares during the period. 84.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on NU shares. Needham & Company LLC reissued a "buy" rating and set a $19.00 target price on shares of NU in a research report on Monday, September 28th. JPMorgan Chase & Co. upped their target price on shares of NU from $20.00 to $23.00 and gave the company an "overweight" rating in a research note on Tuesday, October 6th. Rothschild & Co Redburn set a $19.00 price target on shares of NU in a report on Monday, September 28th. Weiss Ratings downgraded shares of NU from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Finally, Itau BBA Securities downgraded shares of NU from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $20.00 to $18.00 in a research note on Wednesday, September 16th. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NU currently has an average rating of "Moderate Buy" and an average target price of $18.25.
Get Our Latest Report on NU
NU Trading Up 2.3%
Shares of NU opened at $12.01 on Friday. The company has a market capitalization of $58.31 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.50 and a beta of 0.97. Nu Holdings Ltd. has a one year low of $11.20 and a one 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 stock has a 50-day moving average price of $14.01 and a 200 day moving average price of $14.36.
NU (NYSE:NU - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 earnings per share for the quarter. NU had a return on equity of 31.59% and a net margin of 18.65%. The firm had revenue of $5.88 billion during the quarter. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.85 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the company's stock in a transaction 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 sale, the insider directly owned 979,446 shares of the company's stock, valued at $15,485,041.26. This represents a 18.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Cristina Junqueira sold 25,000 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $15.01, for a total transaction of $375,250.00. Following the transaction, the chief executive officer owned 4,877,593 shares in the company, valued at $73,212,670.93. This trade represents a 0.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 386,707 shares of company stock valued at $6,001,588 in the last three months. Corporate insiders own 1.20% of the company's stock.
NU Company Profile
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Free Report)
Nu Holdings Ltd., which operates under the Nubank brand, is a digital financial services company founded in Brazil in 2013. It provides banking and related services through mobile apps and other digital channels, with a focus on simplifying access to financial products.
Its offerings include digital accounts, payment cards, credit products, personal loans, and investment services. The company also provides services to small businesses, with products and availability varying by country.
Nu serves customers in Brazil, Mexico, and Colombia.
Further Reading
Want to see what other hedge funds are holding NU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nu Holdings Ltd. (NYSE:NU - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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