Nu Holdings Ltd. $NU Position Raised by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Nu Holdings position by 127% in the third quarter, adding 21.4 million shares to hold 38.3 million shares worth approximately $484.4 million. Institutional investors collectively own 84.02% of NU.
• NU shares opened at $14.77, with the stock trading above its 50-day and 200-day moving averages. The company reported $0.22 in quarterly earnings per share, $5.88 billion in revenue, an 18.65% net margin, and a 31.59% return on equity.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $17.94, while targets range from $18.00 to $23.00. Company insiders sold shares during the latest quarter, including transactions by CEO Cristina Junqueira and insider Henrique Camossa Sald Fragelli.

Assenagon Asset Management S.A. grew its position in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 127.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,263,897 shares of the company's stock after acquiring an additional 21,405,374 shares during the quarter. Assenagon Asset Management S.A. owned 0.79% of NU worth $484,421,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. First Citizens Bank & Trust Co. acquired a new position in shares of NU during the 3rd quarter worth about $785,000. GK Wealth Management LLC acquired a new stake in shares of NU in the third quarter valued at about $31,000. Systrade AG increased its position in shares of NU by 1,300.0% in the third quarter. Systrade AG now owns 140,000 shares of the company's stock valued at $1,772,000 after acquiring an additional 130,000 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of NU in the second quarter valued at about $316,000. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in NU by 25.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 19,227 shares of the company's stock worth $257,000 after acquiring an additional 3,883 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company's stock.

NU Stock Performance

Shares of NU opened at $14.77 on Friday. The firm has a 50-day moving average of $14.47 and a 200-day moving average of $13.92. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The company has a market cap of $71.69 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.55.

NU (NYSE:NU - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 earnings per share for the quarter. The company had revenue of $5.88 billion for the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. As a group, equities analysts forecast that Nu Holdings Ltd. will post 0.86 earnings per share for the current year.

Insider Transactions at NU

In related news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of NU stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $15.81, for a total transaction of $3,505,187.67. Following the completion of the transaction, the insider owned 979,446 shares in the company, valued at approximately $15,485,041.26. This trade represents a 18.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Cristina Junqueira sold 65,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total value of $956,150.00. Following the transaction, the chief executive officer directly owned 2,542,083 shares in the company, valued at approximately $37,394,040.93. This trade represents a 2.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 386,707 shares of company stock valued at $6,001,588 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on NU from $20.00 to $23.00 and gave the company an "overweight" rating in a research report on Tuesday, October 6th. Rothschild & Co Redburn set a $19.00 price target on NU in a research note on Monday, September 28th. Itau BBA Securities lowered NU from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $20.00 to $18.00 in a research report on Wednesday, September 16th. UBS Group boosted their price target on NU from $16.90 to $18.20 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $19.00 price objective on shares of NU in a research note on Monday, September 28th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, NU presently has an average rating of "Moderate Buy" and a consensus target price of $17.94.

NU Company Profile

Nu Holdings Ltd., operating under the Nubank brand, is a digital financial services company that provides banking and payment products primarily through mobile applications. The company offers digital accounts, credit cards, personal loans, payment services, investment products and insurance, serving consumers and small businesses.

Nubank was founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible with the goal of expanding access to simpler, lower-cost financial services through technology.

Want to see what other hedge funds are holding NU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nu Holdings Ltd. (NYSE:NU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.