Avala Global LP Boosts Holdings in Nu Holdings Ltd. $NU

Avala Global LP boosted its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 19.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,765,200 shares of the company’s stock after purchasing an additional 954,600 shares during the period. NU accounts for approximately 4.6% of Avala Global LP’s holdings, making the stock its 10th largest holding. Avala Global LP’s holdings in NU were worth $96,509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sowell Financial Services LLC increased its stake in shares of NU by 4.8% in the 4th quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock valued at $217,000 after buying an additional 599 shares during the period. Parallel Advisors LLC increased its stake in shares of NU by 3.7% in the 4th quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock valued at $282,000 after buying an additional 601 shares during the period. MBM Wealth Consultants LLC increased its stake in shares of NU by 1.2% in the 4th quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock valued at $842,000 after buying an additional 607 shares during the period. Cornerstone Wealth Group LLC increased its stake in shares of NU by 1.2% in the 4th quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock valued at $866,000 after buying an additional 621 shares during the period. Finally, Aptus Capital Advisors LLC increased its stake in shares of NU by 3.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock valued at $318,000 after buying an additional 624 shares during the period. 84.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NU has been the subject of several research reports. Weiss Ratings cut NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Zacks Research cut NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. UBS Group lowered their target price on 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 reissued an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Finally, Susquehanna lowered NU from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, NU currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.08.

NU Stock Up 1.2%

NYSE:NU opened at $12.87 on Thursday. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $62.48 billion, a P/E ratio of 19.80, a P/E/G ratio of 0.51 and a beta of 0.95. The stock’s fifty day simple moving average is $13.49 and its 200-day simple moving average is $15.30.

NU (NYSE:NU) last posted its earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. Equities research analysts expect that Nu Holdings Ltd. will post 0.84 earnings per share for the current year.

NU announced that its board has initiated a stock repurchase program on Thursday, June 4th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy 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.

Insider Transactions at NU

In other news, Director Anita M. Sands sold 21,000 shares of the business’s stock in a transaction dated 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 directly owned 162,150 shares in the company, valued at $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $14.81, for a total value of $4,443,000.00. Following the sale, the chief executive officer owned 2,312,338 shares in the company, valued at $34,245,725.78. The trade was a 11.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.20% of the company’s stock.

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.