Barings LLC Has $15.19 Million Holdings in Nu Holdings Ltd. $NU

Key Points

• Barings LLC reduced its Nu Holdings stake by 33.3% in the first quarter, selling 527,648 shares and leaving it with 1,056,857 shares valued at about $15.19 million.
• NU’s insider and institutional activity was mixed. Director Anita M. Sands sold 21,000 shares in May, while institutional investors still own a large majority of the stock at 84.02%.
• Analysts remain generally positive on NU despite some target cuts, with the stock carrying a Moderate Buy consensus and an average price target of $17.24.

Barings LLC lowered its stake in Nu Holdings Ltd. (NYSE:NU - Free Report) by 33.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,056,857 shares of the company's stock after selling 527,648 shares during the quarter. Barings LLC's holdings in NU were worth $15,187,000 as of its most recent SEC filing.

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

Insider Buying and Selling at NU

In other news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the sale, the director owned 162,150 shares in the company, valued at $1,984,716. The trade was a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. UBS Group dropped their price target on shares of NU from $18.10 to $16.90 and set a "buy" rating for the company in a research note on Wednesday, May 20th. CICC Research initiated coverage on NU in a report on Tuesday, April 14th. They issued an "outperform" rating and a $18.00 price objective for the company. Needham & Company LLC started coverage on NU in a research report on Friday, June 26th. They set a "buy" rating and a $17.00 target price for the company. Bank of America reaffirmed an "underperform" rating on shares of NU in a report on Tuesday, June 2nd. Finally, 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. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, NU currently has an average rating of "Moderate Buy" and an average target price of $17.24.

NU Stock Performance

NU stock opened at $13.78 on Friday. The stock has a 50-day moving average price of $12.89 and a 200-day moving average price of $14.79. Nu Holdings Ltd. has a 1-year low of $11.20 and a 1-year high of $18.98. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The firm has a market cap of $66.92 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95.

NU (NYSE:NU - Get Free Report) last announced its earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business 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%. As a group, equities research analysts expect that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

NU announced that its board has authorized a stock repurchase plan 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 plans are typically an indication that the company's management believes its stock is undervalued.

NU Company Profile

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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