VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Nu Holdings Ltd. $NU

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Nu Holdings Ltd. (NYSE:NU - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 176,500 shares of the company's stock, valued at approximately $2,358,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in NU by 14,810.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company's stock valued at $25,000 after purchasing an additional 1,481 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of NU during the fourth quarter valued at $27,000. Hollencrest Capital Management purchased a new position in shares of NU during the fourth quarter valued at $33,000. Harbor Investment Advisory LLC raised its holdings in shares of NU by 68.2% in the second quarter. Harbor Investment Advisory LLC now owns 3,010 shares of the company's stock valued at $40,000 after acquiring an additional 1,220 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised 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 acquiring an additional 1,464 shares in the last quarter. Institutional investors own 84.02% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of NU from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Needham & Company LLC upped their price target on shares of NU from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Bank of America reiterated an "underperform" rating on shares of NU in a research note on Tuesday, June 2nd. Susquehanna lifted their price objective on shares of NU from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, August 14th. Finally, Scotiabank downgraded shares of NU to a "sector perform" rating and set a $13.00 price objective for the company. in a research note on Wednesday, June 3rd. Nine 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, the company currently has an average rating of "Moderate Buy" and an average price target of $17.91.

Insider Buying and Selling

In other NU news, CEO Cristina Junqueira sold 65,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total value of $956,150.00. Following the completion of the sale, the chief executive officer directly owned 2,542,083 shares in the company, valued at $37,394,040.93. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of NU stock in a transaction on 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 directly owned 979,446 shares in the company, valued at $15,485,041.26. This represents a 18.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 361,707 shares of company stock valued at $5,626,338 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

NU Stock Performance

Shares of NU stock opened at $15.02 on Friday. The company has a market capitalization of $72.95 billion, a PE ratio of 20.30, a P/E/G ratio of 0.61 and a beta of 0.94. 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 company has a 50-day simple moving average of $14.37 and a two-hundred day simple moving average of $13.99. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98.

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

NU declared that its board has initiated a share buyback program on Thursday, June 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

NU Profile

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

Founded in Brazil in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nubank was established to simplify financial services and expand access to banking through technology.

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