Nu Holdings Ltd. $NU Shares Purchased by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners LLC boosted its Nu Holdings stake by 461.9% in the first quarter, buying 92,290 additional shares and bringing its total to 112,269 shares valued at about $1.61 million.
• NU reported quarterly earnings of $0.19 per share, missing estimates by $0.01, while revenue came in at $5.32 billion, above analyst expectations. Analysts still expect full-year EPS of 0.83.
• The company’s board authorized a stock buyback plan, and analysts remain mixed but generally constructive, with a consensus rating of Moderate Buy and an average target price of $17.07.

Elevation Point Wealth Partners LLC raised its stake in shares of Nu Holdings Ltd. (NYSE:NU - Free Report) by 461.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,269 shares of the company's stock after acquiring an additional 92,290 shares during the period. Elevation Point Wealth Partners LLC's holdings in NU were worth $1,613,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NU. EverSource Wealth Advisors LLC increased its holdings in shares of NU by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company's stock valued at $52,000 after purchasing an additional 1,464 shares during the period. Jump Financial LLC grew its position in NU by 541.8% in the 2nd quarter. Jump Financial LLC now owns 185,434 shares of the company's stock valued at $2,544,000 after buying an additional 156,539 shares during the last quarter. WINTON GROUP Ltd increased its stake in NU by 38.5% in the 2nd quarter. WINTON GROUP Ltd now owns 37,156 shares of the company's stock valued at $510,000 after buying an additional 10,332 shares during the period. AXA S.A. increased its stake in NU by 1.4% in the 2nd quarter. AXA S.A. now owns 192,311 shares of the company's stock valued at $2,639,000 after buying an additional 2,682 shares during the period. Finally, Nebula Research & Development LLC raised its position in NU by 63.7% during the 2nd quarter. Nebula Research & Development LLC now owns 19,937 shares of the company's stock worth $274,000 after buying an additional 7,760 shares during the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

NU Stock Down 0.1%

Shares of NYSE NU opened at $13.60 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. Nu Holdings Ltd. has a 52 week low of $11.20 and a 52 week high of $18.98. The firm has a 50-day moving average price of $13.01 and a 200 day moving average price of $14.96. The stock has a market capitalization of $66.02 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 0.54 and a beta of 0.95.

NU (NYSE:NU - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. Equities research analysts anticipate that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU announced that its board has authorized a stock buyback plan on Thursday, June 4th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on NU shares. 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 research note on Wednesday, May 20th. Bank of America reiterated an "underperform" rating on shares of NU in a research note on Tuesday, June 2nd. Needham & Company LLC assumed coverage on shares of NU in a report on Friday, June 26th. They set a "buy" rating and a $17.00 price target for the company. Scotiabank downgraded shares of NU to a "sector perform" rating and set a $13.00 price objective for the company. in a research report on Wednesday, June 3rd. Finally, Zacks Research lowered NU from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 24th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, NU presently has an average rating of "Moderate Buy" and a consensus target price of $17.07.

Insider Buying and Selling at NU

In related news, Director Anita M. Sands sold 21,000 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $12.24, for a total value of $257,040.00. Following the sale, the director owned 162,150 shares in the company, valued at $1,984,716. This represents a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

About NU

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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