Public Employees Retirement System of Ohio Trims Stock Position in Nu Holdings Ltd. $NU

Key Points

• Public Employees Retirement System of Ohio cut its NU stake by 24% in the first quarter, selling 936,661 shares and leaving it with 2,958,649 shares valued at about $42.5 million.
• Several other institutional investors adjusted positions in NU, and hedge funds and other institutions still own a large majority of the company at 84.02%.
• Analyst sentiment remains broadly positive with a Moderate Buy consensus and average price target of $17.24, while NU recently traded around $14.12 after posting mixed quarterly results and authorizing a stock repurchase program.

Public Employees Retirement System of Ohio trimmed its position in Nu Holdings Ltd. (NYSE:NU - Free Report) by 24.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,958,649 shares of the company's stock after selling 936,661 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.06% of NU worth $42,516,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NU. Maxi Investments CY Ltd raised its position in NU by 85.5% in the fourth quarter. Maxi Investments CY Ltd now owns 783,000 shares of the company's stock valued at $13,107,000 after purchasing an additional 361,000 shares during the period. C WorldWide Group Holding A S grew its holdings in shares of NU by 1,045.3% during the 4th quarter. C WorldWide Group Holding A S now owns 311,792 shares of the company's stock worth $5,219,000 after purchasing an additional 284,569 shares during the period. Vanguard Group Inc. grew its holdings in shares of NU by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company's stock worth $415,401,000 after purchasing an additional 1,037,438 shares during the period. Genoa Capital Gestora de Recursos Ltda. acquired a new stake in shares of NU during the 4th quarter worth about $3,869,000. Finally, Danske Bank A S increased its position in shares of NU by 515.0% during the 4th quarter. Danske Bank A S now owns 5,074,732 shares of the company's stock worth $84,951,000 after purchasing an additional 4,249,632 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company's stock.

Insider Transactions at NU

In other news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction of $257,040.00. Following the sale, the director owned 162,150 shares of the company's stock, valued at approximately $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on NU. CICC Research began coverage on shares of NU in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $18.00 target price on the stock. JPMorgan Chase & Co. lifted their price target 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. UBS Group dropped 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. Needham & Company LLC began coverage on shares of NU in a research note on Friday, June 26th. They issued a "buy" rating and a $17.00 price target on the stock. Finally, Weiss Ratings lowered shares of NU from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.24.

NU Trading Down 0.5%

Shares of NYSE NU opened at $14.12 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $68.54 billion, a PE ratio of 21.72, a PEG ratio of 0.57 and a beta of 0.95. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve month high of $18.98. The stock has a fifty day simple moving average of $13.02 and a 200-day simple moving average of $14.69.

NU (NYSE:NU - Get Free Report) last posted its earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) 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 firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. On average, equities analysts forecast that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

NU announced that its Board of Directors has authorized a stock repurchase program on Thursday, June 4th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are 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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