Nu Holdings Ltd. $NU Shares Acquired by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. increased its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 24.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,973,549 shares of the company’s stock after acquiring an additional 3,570,451 shares during the period. NU makes up approximately 11.8% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 2nd biggest holding. Coronation Fund Managers Ltd. owned 0.37% of NU worth $258,280,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Maxi Investments CY Ltd increased its holdings in 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 buying an additional 361,000 shares in the last quarter. C WorldWide Group Holding A S boosted its stake in shares of NU by 1,045.3% during the 4th quarter. C WorldWide Group Holding A S now owns 311,792 shares of the company’s stock worth $5,219,000 after acquiring an additional 284,569 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of NU by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company’s stock worth $415,401,000 after acquiring an additional 1,037,438 shares during the period. Genoa Capital Gestora de Recursos Ltda. purchased a new position in NU in the 4th quarter valued at approximately $3,869,000. Finally, Danske Bank A S increased its stake in NU by 515.0% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction of $257,040.00. Following the completion of the transaction, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. This represents a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on NU. Weiss Ratings lowered NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Bank of America reissued an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 target price for the company. in a report on Wednesday, June 3rd. UBS Group reduced their price target on shares of NU from $18.10 to $16.90 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Finally, Susquehanna cut shares of NU from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $13.00 in a research note on Wednesday, June 3rd. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.24.

NU Price Performance

NU stock opened at $14.51 on Thursday. The stock has a market capitalization of $70.45 billion, a P/E ratio of 22.32, a P/E/G ratio of 0.58 and a beta of 0.95. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. 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 firm’s 50-day moving average is $12.96 and its two-hundred day moving average is $14.72.

NU (NYSE:NU) last announced its quarterly earnings data 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 for 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 analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

NU declared that its Board of Directors has authorized a share buyback plan on Thursday, June 4th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.