Taylor Frigon Capital Management LLC Makes New Investment in Nu Holdings Ltd. $NU

Key Points

• Taylor Frigon Capital Management initiated a Nu Holdings stake of 189,170 shares worth approximately $2.4 million during the third quarter. Institutional investors collectively own 84.02% of NU’s outstanding shares.
• Nu Holdings reported quarterly earnings of $0.22 per share on $5.88 billion in revenue, with an 18.65% net margin and 31.59% return on equity.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $18.12, while company insiders sold approximately $6.0 million of stock over the last quarter.

Taylor Frigon Capital Management LLC purchased a new stake in Nu Holdings Ltd. (NYSE:NU - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 189,170 shares of the company's stock, valued at approximately $2,395,000.

Other hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake in shares of NU by 127.0% during the third quarter. Assenagon Asset Management S.A. now owns 38,263,897 shares of the company's stock worth $484,421,000 after purchasing an additional 21,405,374 shares in the last quarter. Squadra Investments Gestao DE Recursos LTDA. boosted its position in shares of NU by 266.8% in the first quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company's stock worth $320,631,000 after buying an additional 16,229,515 shares during the period. Bank of Nova Scotia grew its stake in shares of NU by 855.9% in the first quarter. Bank of Nova Scotia now owns 16,111,616 shares of the company's stock valued at $231,524,000 after buying an additional 14,426,181 shares in the last quarter. Maverick Capital Ltd. grew its stake in shares of NU by 91.6% in the first quarter. Maverick Capital Ltd. now owns 22,444,311 shares of the company's stock valued at $322,525,000 after buying an additional 10,729,747 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of NU by 444.1% in the first quarter. Hsbc Holdings PLC now owns 7,782,758 shares of the company's stock valued at $111,555,000 after buying an additional 6,352,288 shares in the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NU

In other news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $15.81, for a total transaction of $3,505,187.67. Following the completion of the sale, the insider owned 979,446 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Cristina Junqueira sold 65,000 shares of NU stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total transaction of $956,150.00. Following the completion of the sale, the chief executive officer owned 2,542,083 shares of the company's stock, valued at approximately $37,394,040.93. This trade represents a 2.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 386,707 shares of company stock valued at $6,001,588. Company insiders own 1.20% of the company's stock.

NU Trading Up 3.1%

Shares of NU opened at $15.18 on Friday. The company has a market capitalization of $73.73 billion, a P/E ratio of 20.52, a P/E/G ratio of 0.62 and a beta of 0.95. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a 50-day moving average price of $14.57 and a 200 day moving average price of $13.95.

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

Analyst Ratings Changes

Several equities research analysts recently commented on NU shares. Needham & Company LLC reiterated a "buy" rating and set a $19.00 target price on shares of NU in a report on Monday, September 28th. UBS Group upped their price target on NU from $18.20 to $20.50 and gave the stock a "buy" rating in a report on Tuesday, October 20th. Rothschild & Co Redburn set a $19.00 price objective on shares of NU in a research report on Monday, September 28th. Wolfe Research dropped their price objective on shares of NU from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 25th. Finally, Itau BBA Securities cut shares of NU from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $20.00 to $18.00 in a research report on Wednesday, September 16th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.12.

NU Company Profile

Nubank NYSE: NU is a digital financial services company headquartered in São Paulo, Brazil. Founded in 2013, the company was established to simplify banking through technology and expand access to financial services in markets traditionally served by large, conventional institutions.

Nubank offers a range of consumer and business products, including digital bank accounts, credit cards, personal loans, payment services, investment products and insurance. Its platform is designed to allow customers to manage accounts, payments and other financial products through mobile applications and other digital channels.

The company primarily serves customers in Brazil, Mexico and Colombia.

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