Swiss National Bank Has $94.25 Million Stake in Nu Holdings Ltd. $NU

Key Points

• The Swiss National Bank reduced its Nu Holdings stake by 11.6% in the first quarter, selling 859,100 shares and ending with 6,558,513 shares worth about $94.25 million.
• Nu Holdings reported Q1 earnings of $0.19 per share, missing estimates by a penny, but revenue of $5.32 billion came in above analyst expectations.
• The company’s board approved a share buyback program, while Wall Street sentiment remains positive overall with a Moderate Buy consensus and an average price target of $17.24.

Swiss National Bank trimmed its stake in Nu Holdings Ltd. (NYSE:NU - Free Report) by 11.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,558,513 shares of the company's stock after selling 859,100 shares during the period. Swiss National Bank owned 0.14% of NU worth $94,246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Maxi Investments CY Ltd grew its holdings in shares of 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 in the last quarter. C WorldWide Group Holding A S increased its position in NU by 1,045.3% in the fourth 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 last quarter. Vanguard Group Inc. raised its stake in NU by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company's stock valued at $415,401,000 after purchasing an additional 1,037,438 shares in the last quarter. Genoa Capital Gestora de Recursos Ltda. bought a new position in NU during the fourth quarter valued at $3,869,000. Finally, Danske Bank A S lifted its position in NU by 515.0% during the fourth quarter. Danske Bank A S now owns 5,074,732 shares of the company's stock valued at $84,951,000 after purchasing an additional 4,249,632 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company's stock.

Insider Buying and Selling at NU

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

NU Price Performance

NU opened at $14.03 on Tuesday. The firm has a market capitalization of $68.13 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 0.54 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. The business's 50-day moving average is $12.90 and its two-hundred day moving average is $14.75. 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 released its quarterly 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). 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%. Research analysts anticipate that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU declared that its board has authorized a share buyback program on Thursday, June 4th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

NU has been the subject of several recent research reports. CICC Research started coverage on NU in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $18.00 price target for the company. Needham & Company LLC started coverage on NU in a report on Friday, June 26th. They issued a "buy" rating and a $17.00 target price for the company. JPMorgan Chase & Co. boosted their target price on NU from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. UBS Group decreased their price target on NU from $18.10 to $16.90 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of NU from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NU currently has an average rating of "Moderate Buy" and a consensus price target of $17.24.

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.

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.