Assenagon Asset Management S.A. Has $467.53 Million Stake in Nu Holdings Ltd. $NU

Key Points

• Assenagon Asset Management increased its Nu Holdings stake by 17.9% in the first quarter, ending with 32.5 million shares worth about $467.5 million. The position now makes NU Assenagon’s 21st-largest holding.
• NU’s recent earnings were mixed: the company posted $0.19 EPS, missing estimates by $0.01, but revenue came in above expectations at $5.32 billion. Analysts still forecast 0.83 EPS for the current fiscal year.
• Sentiment remains mostly positive despite recent pressure on the stock: NU was trading at $12.60, below its 50-day and 200-day averages, while analysts rate it a Moderate Buy with a $17.08 average price target and the board has authorized a share buyback program.

Assenagon Asset Management S.A. raised its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 17.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,535,091 shares of the company's stock after acquiring an additional 4,944,618 shares during the quarter. NU comprises 0.7% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 21st biggest holding. Assenagon Asset Management S.A. owned about 0.67% of NU worth $467,529,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its position in shares of NU by 14,810.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company's stock worth $25,000 after buying an additional 1,481 shares during the period. LOM Asset Management Ltd bought a new position in shares of NU during the 4th quarter worth about $25,000. Zions Bancorporation National Association UT bought a new position in shares of NU during the 4th quarter worth about $27,000. Cornerstone Planning Group LLC grew its stake in shares of NU by 5,448.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company's stock valued at $27,000 after buying an additional 1,580 shares during the period. Finally, Morse Asset Management Inc acquired a new stake in shares of NU in the 4th quarter valued at about $31,000. 84.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NU has been the topic of a number of research reports. Itau BBA Securities reaffirmed an "outperform" rating on shares of NU in a research note on Tuesday, March 17th. UBS Group lowered their target price on NU from $18.10 to $16.90 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Zacks Research downgraded shares of NU from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 24th. Bank of America restated an "underperform" rating on shares of NU in a research note on Tuesday, June 2nd. Finally, Weiss Ratings downgraded shares of NU from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 13th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NU currently has an average rating of "Moderate Buy" and an average price target of $17.08.

NU Trading Down 1.5%

NYSE NU opened at $12.60 on Wednesday. The business has a fifty day simple moving average of $13.34 and a 200 day simple moving average of $15.17. The firm has a market capitalization of $61.18 billion, a P/E ratio of 19.38, a PEG ratio of 0.51 and a beta of 0.95. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. Nu Holdings Ltd. has a 12 month low of $11.20 and a 12 month high of $18.98.

NU (NYSE:NU - Get Free Report) last released its quarterly 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 the consensus estimate of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. On average, analysts predict that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

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

Insider Buying and Selling at NU

In other news, Director Anita M. Sands sold 21,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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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