Candriam S.C.A. Trims Position in Nu Holdings Ltd. $NU

Candriam S.C.A. lowered its position in shares of Nu Holdings Ltd. (NYSE:NU) by 94.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 300,000 shares of the company’s stock after selling 5,395,700 shares during the quarter. Candriam S.C.A.’s holdings in NU were worth $4,311,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Sowell Financial Services LLC grew its position in shares of NU by 4.8% in the fourth quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock valued at $217,000 after purchasing an additional 599 shares during the period. Parallel Advisors LLC lifted its position in NU by 3.7% during the fourth quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock worth $282,000 after buying an additional 601 shares during the period. MBM Wealth Consultants LLC lifted its position in NU by 1.2% during the fourth quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock worth $842,000 after buying an additional 607 shares during the period. Cornerstone Wealth Group LLC boosted its stake in NU by 1.2% in the 4th quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after buying an additional 621 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its stake in NU by 3.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock worth $318,000 after buying an additional 624 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Trading Down 0.4%

NYSE NU opened at $13.71 on Tuesday. The company’s fifty day simple moving average is $12.92 and its 200-day simple moving average is $14.85. Nu Holdings Ltd. has a 52 week low of $11.20 and a 52 week high of $18.98. 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 cap of $66.55 billion, a P/E ratio of 21.08, a PEG ratio of 0.55 and a beta of 0.95.

NU (NYSE:NU) last announced its earnings results on Friday, May 15th. The company reported $0.19 earnings per share 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 net margin of 18.20% and a return on equity of 30.91%. Equities research analysts predict that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on NU. Needham & Company LLC began coverage on shares of NU in a research note on Friday, June 26th. They set a “buy” rating and a $17.00 price objective for the company. Zacks Research lowered NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Scotiabank cut NU to a “sector perform” rating and set a $13.00 target price on the stock. in a report on Wednesday, June 3rd. JPMorgan Chase & Co. boosted their price target on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Itau BBA Securities restated an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.24.

Insider Transactions at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction that occurred on 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 in the company, valued at $1,984,716. The trade was a 11.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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.