Amundi Sells 2,911,102 Shares of Nu Holdings Ltd. $NU

Key Points

• Amundi reduced its Nu Holdings stake by 18.1%, selling 2.91 million shares in the first quarter and retaining 13.21 million shares valued at approximately $189.9 million.
• Other institutional investors increased their positions significantly, while institutions collectively owned 84.02% of NU’s outstanding stock.
• NU reported quarterly revenue of $5.32 billion, exceeding estimates, but earnings per share of $0.19 fell short of expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $17.24, compared with a recent share price of $14.52.

Amundi lessened its stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,212,335 shares of the company's stock after selling 2,911,102 shares during the quarter. Amundi owned approximately 0.27% of NU worth $189,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NU. Norges Bank bought a new position in shares of NU during the fourth quarter valued at about $763,792,000. Larch Capital Partners LLC purchased a new stake in shares of NU during the fourth quarter worth about $605,829,000. Jennison Associates LLC grew its stake in shares of NU by 82.6% in the fourth quarter. Jennison Associates LLC now owns 39,370,791 shares of the company's stock worth $659,067,000 after purchasing an additional 17,809,644 shares during the last quarter. Squadra Investments Gestao DE Recursos LTDA. grew its stake in shares of NU by 266.8% in the first quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company's stock worth $320,631,000 after purchasing an additional 16,229,515 shares during the last quarter. Finally, Atmos Capital Gestao DE Recursos LTDA. grew its stake in shares of NU by 109.1% in the fourth quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 29,813,810 shares of the company's stock worth $499,083,000 after purchasing an additional 15,552,726 shares during the last quarter. Institutional investors own 84.02% of the company's stock.

NU Stock Performance

Shares of NU opened at $14.52 on Friday. The company has a 50-day simple moving average of $13.16 and a two-hundred day simple moving average of $14.58. 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 market capitalization of $70.50 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98.

NU (NYSE:NU - Get Free Report) last posted 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). The firm had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. On average, analysts anticipate that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU announced that its board has authorized a share buyback program on Thursday, June 4th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have commented on NU shares. JPMorgan Chase & Co. upped their price target on NU from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Susquehanna lowered NU from a "positive" rating to a "neutral" rating and cut their price objective for the stock from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Scotiabank cut NU to a "sector perform" rating and set a $13.00 target price on the stock. in a research note on Wednesday, June 3rd. Weiss Ratings downgraded NU from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 13th. Finally, Needham & Company LLC began coverage on NU in a report on Friday, June 26th. They set a "buy" rating and a $17.00 target price for the company. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $17.24.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 21,000 shares of the company's stock in a transaction 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. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by insiders.

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.

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