Andra AP fonden Purchases 411,500 Shares of Nu Holdings Ltd. $NU

Key Points

• Andra AP fonden increased its Nu Holdings stake by 17.7% in the second quarter, adding 411,500 shares to own 2.74 million shares valued at approximately $36.6 million. Institutional investors collectively own 84.02% of NU.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $17.92, compared with NU’s recent trading price of $13.93. Ratings include eight Buys, five Holds and one Sell.
• Nu Holdings reported quarterly revenue of $5.88 billion and earnings of $0.22 per share, while insiders sold 361,707 shares worth about $5.6 million over the past 90 days.

Andra AP fonden lifted its holdings in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 17.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,736,700 shares of the company's stock after acquiring an additional 411,500 shares during the quarter. Andra AP fonden owned 0.06% of NU worth $36,562,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of NU during the 4th quarter valued at $763,792,000. Bank of America Corp DE grew its position in NU by 8.6% during the first quarter. Bank of America Corp DE now owns 45,966,932 shares of the company's stock valued at $660,545,000 after buying an additional 3,656,945 shares during the period. Larch Capital Partners LLC purchased a new stake in NU during the fourth quarter worth about $605,829,000. Arrowstreet Capital Limited Partnership increased its holdings in NU by 53.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 28,310,084 shares of the company's stock worth $473,911,000 after buying an additional 9,893,940 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in NU by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 28,208,035 shares of the company's stock worth $468,915,000 after acquiring an additional 1,526,277 shares during the period. 84.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NU. Itau BBA Securities downgraded shares of NU from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $20.00 to $18.00 in a research report on Wednesday, September 16th. Susquehanna boosted their target price on NU from $13.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. Bank of America reaffirmed an "underperform" rating on shares of NU in a research report on Tuesday, June 2nd. Wolfe Research reduced their target price on shares of NU from $18.00 to $17.00 and set an "outperform" rating for the company in a research note on Tuesday, August 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $19.00 price target on shares of NU in a research note on Friday, September 11th. Eight 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.92.

NU Price Performance

NU stock traded down $0.13 during mid-day trading on Tuesday, reaching $13.93. 26,529,430 shares of the company traded hands, compared to its average volume of 62,490,285. The company has a fifty day moving average price of $14.43 and a 200-day moving average price of $13.92. Nu Holdings Ltd. has a 52-week low of $11.20 and a 52-week high of $18.98. The company has a market capitalization of $67.65 billion, a P/E ratio of 18.84, a P/E/G ratio of 0.56 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.55.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 EPS for the quarter. The company 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%. As a group, analysts anticipate that Nu Holdings Ltd. will post 0.86 earnings per share for the current year.

NU declared that its board has authorized a stock buyback program on Thursday, June 4th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at NU

In related news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $15.81, for a total value of $3,505,187.67. Following the sale, the insider owned 979,446 shares in the company, valued at approximately $15,485,041.26. This trade represents a 18.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Cristina Junqueira sold 65,000 shares of NU stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total value of $956,150.00. Following the sale, the chief executive officer directly owned 2,542,083 shares of the company's stock, valued at $37,394,040.93. This represents a 2.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 361,707 shares of company stock worth $5,626,338.

NU Company Profile

Nu Holdings Ltd., operating under the Nubank brand, is a digital financial services company that provides banking, payments and credit products through mobile applications. Its offerings include digital bank accounts, credit cards, personal loans, payment services, investment products and insurance, serving consumers and small businesses.

Founded in Brazil in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nubank was established to simplify financial services and expand access to banking through technology.

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