Mizuho Markets Cayman LP Acquires 194,809 Shares of Nu Holdings Ltd. $NU

Key Points

• Mizuho Markets Cayman LP increased its NU stake by 33.7% in the first quarter, buying 194,809 additional shares and bringing its total to 772,786 shares worth about $11.1 million.
• Other institutional investors also added to NU, and hedge funds and institutions now own 84.02% of the company’s stock.
• NU reported mixed results and sentiment remains split: quarterly EPS slightly missed estimates, though revenue topped forecasts, while analysts currently rate the stock “Moderate Buy” with a consensus price target of $17.24.

Mizuho Markets Cayman LP lifted its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 33.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 772,786 shares of the company's stock after acquiring an additional 194,809 shares during the quarter. NU makes up 0.6% of Mizuho Markets Cayman LP's investment portfolio, making the stock its 22nd largest position. Mizuho Markets Cayman LP's holdings in NU were worth $11,105,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. LOM Asset Management Ltd bought a new stake in shares of NU during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd boosted its stake in NU by 14,810.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company's stock worth $25,000 after purchasing 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 valued at $27,000 after buying an additional 1,580 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in NU during the 4th quarter valued at about $27,000. Finally, Morse Asset Management Inc bought a new stake in shares of NU during the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 84.02% of the company's stock.

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the business's stock in a transaction that occurred 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 directly owned 162,150 shares in the company, valued at approximately $1,984,716. The trade was a 11.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NU. Weiss Ratings cut shares of NU from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 13th. CICC Research assumed coverage on shares of NU in a report on Tuesday, April 14th. They issued an "outperform" rating and a $18.00 price target for the company. UBS Group reduced their price target on shares of NU from $18.10 to $16.90 and set a "buy" rating for the company in a research report on Wednesday, May 20th. JPMorgan Chase & Co. upped their price target on shares of NU from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Finally, Needham & Company LLC started coverage on NU in a research report on Friday, June 26th. They issued a "buy" rating and a $17.00 price objective on the stock. 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 MarketBeat.com, NU currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.24.

NU Trading Up 0.8%

Shares of NU opened at $14.51 on Thursday. The firm's 50 day simple moving average is $12.96 and its 200 day simple moving average is $14.72. The company has a market capitalization of $70.45 billion, a P/E ratio of 22.32, a P/E/G ratio of 0.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58. Nu Holdings Ltd. has a 1-year low of $11.20 and a 1-year high of $18.98.

NU (NYSE:NU - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU announced that its board has initiated a stock repurchase plan on Thursday, June 4th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

NU 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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