Handelsbanken Fonder AB Raises Stock Holdings in Nu Holdings Ltd. $NU

Key Points

• Handelsbanken Fonder AB increased its Nu Holdings stake by 5.6%, adding 146,764 shares to own 2.77 million shares valued at approximately $37 million. Institutional investors collectively hold 84.02% of NU.
• Analyst sentiment remains generally positive but mixed: NU has a “Moderate Buy” consensus rating and an average price target of $17.24, despite recent downgrades from Weiss Ratings, Scotiabank and Bank of America.
• NU shares opened at $13.65, down 1.5%, while the company’s latest quarterly revenue of $5.32 billion exceeded estimates but EPS of $0.19 narrowly missed consensus. The board also announced a share-repurchase authorization, although the stated amount was $0.00.

Handelsbanken Fonder AB boosted its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 5.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,770,572 shares of the company's stock after acquiring an additional 146,764 shares during the quarter. Handelsbanken Fonder AB owned about 0.06% of NU worth $37,015,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NU. Morgan Stanley raised its stake in shares of NU by 2.9% in the fourth quarter. Morgan Stanley now owns 121,350,701 shares of the company's stock worth $2,031,411,000 after purchasing an additional 3,419,077 shares during the last quarter. State Street Corp lifted its holdings in shares of NU by 0.3% during the third quarter. State Street Corp now owns 91,478,395 shares of the company's stock worth $1,464,569,000 after purchasing an additional 239,660 shares during the period. Bank of America Corp DE boosted its position in NU by 8.6% in 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 last quarter. Norges Bank purchased a new stake in NU in the fourth quarter valued at approximately $763,792,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in NU by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,602,086 shares of the company's stock worth $713,160,000 after buying an additional 4,215,824 shares during the period. Hedge funds and other institutional investors own 84.02% of the company's stock.

Insider Buying and Selling at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of the company's stock in a transaction dated 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 transaction, the director owned 162,150 shares in the company, valued at approximately $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings lowered shares of NU from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 13th. Scotiabank downgraded shares of NU to a "sector perform" rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. Bank of America reiterated an "underperform" rating on shares of NU in a research note on Tuesday, June 2nd. UBS Group reduced their target price on shares of NU from $18.10 to $16.90 and set a "buy" rating for the company in a report on Wednesday, May 20th. Finally, 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 report on Tuesday, July 7th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.24.

NU Stock Down 1.5%

Shares of NU stock opened at $13.65 on Wednesday. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. The stock has a market cap of $66.27 billion, a P/E ratio of 21.00, a P/E/G ratio of 0.55 and a beta of 0.94. The stock has a 50 day moving average of $13.37 and a 200 day moving average of $14.43. 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 data on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. As a group, sell-side analysts expect that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU declared that its Board of Directors has initiated a share repurchase plan on Thursday, June 4th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors 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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