Cumberland Partners Ltd Sells 95,000 Shares of Nu Holdings Ltd. $NU

Key Points

• Cumberland Partners Ltd cut its NU stake by 33.3% in the first quarter, selling 95,000 shares and leaving it with 190,000 shares worth about $2.73 million.
• Analysts remain generally positive on Nu Holdings, with a consensus rating of Moderate Buy and an average price target of $17.24; JPMorgan recently raised its target to $20.00 and reiterated an overweight rating.
• NU reported mixed quarterly results, missing EPS estimates by $0.01 but beating revenue expectations, while its board also approved a share buyback program that may signal management believes the stock is undervalued.

Cumberland Partners Ltd trimmed its stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 33.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,000 shares of the company's stock after selling 95,000 shares during the quarter. Cumberland Partners Ltd's holdings in NU were worth $2,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of NU. Caitong International Asset Management Co. Ltd lifted 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 stake in NU in the fourth quarter valued at $25,000. Zions Bancorporation National Association UT acquired a new position in NU during the fourth quarter worth $27,000. Cornerstone Planning Group LLC raised its stake in NU by 5,448.3% during the fourth 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 in the last quarter. Finally, Morse Asset Management Inc bought a new position in shares of NU during the fourth quarter valued at $31,000. 84.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NU has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of NU from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Weiss Ratings lowered shares of NU from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 13th. CICC Research initiated coverage on shares of NU in a research note on Tuesday, April 14th. They set an "outperform" rating and a $18.00 price objective on the stock. Needham & Company LLC initiated coverage on shares of NU in a report on Friday, June 26th. They set a "buy" rating and a $17.00 price objective for the company. Finally, UBS Group cut their target price 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. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.24.

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the business's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.20% of the company's stock.

NU Price Performance

Shares of NU stock opened at $14.12 on Friday. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The firm's 50 day moving average is $13.02 and its 200-day moving average is $14.69. The firm has a market capitalization of $68.54 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 0.57 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 (NYSE:NU - Get Free Report) last issued 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). NU had a net margin of 18.20% and a return on equity of 30.91%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU announced that its Board of Directors has approved a share buyback program on Thursday, June 4th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are 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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