Brokerages Set Nu Holdings Ltd. (NYSE:NU) Price Target at $17.24

Nu Holdings Ltd. (NYSE:NU) has earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.2417.

NU has been the subject of several recent analyst reports. CICC Research assumed coverage on shares of NU in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. UBS Group reduced their price target on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Bank of America restated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Finally, Scotiabank lowered NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd.

NU Trading Up 0.7%

NYSE:NU opened at $14.44 on Friday. NU has a 1 year low of $11.20 and a 1 year high of $18.98. The stock has a market cap of $70.09 billion, a P/E ratio of 22.21, a P/E/G ratio of 0.57 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a 50-day simple moving average of $13.23 and a 200-day simple moving average of $14.55.

NU (NYSE:NU) last issued 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 business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. As a group, analysts anticipate that NU will post 0.83 earnings per share for the current fiscal year.

NU announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 4th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at NU

In related news, Director Anita M. Sands sold 21,000 shares of the firm’s 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 transaction, the director owned 162,150 shares in the company, valued at $1,984,716. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On NU

Large investors have recently modified their holdings of the company. Baillie Gifford & Co. raised its position in NU by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock valued at $4,306,481,000 after purchasing an additional 5,797,365 shares during the last quarter. Morgan Stanley grew its position in NU by 2.9% during the 4th quarter. Morgan Stanley now owns 121,350,701 shares of the company’s stock worth $2,031,411,000 after purchasing an additional 3,419,077 shares during the last quarter. State Street Corp grew its position in NU by 0.3% during the 3rd quarter. State Street Corp now owns 91,478,395 shares of the company’s stock worth $1,464,569,000 after purchasing an additional 239,660 shares during the last quarter. Bank of America Corp DE increased its stake in NU by 8.6% in the first quarter. Bank of America Corp DE now owns 45,966,932 shares of the company’s stock valued at $660,545,000 after purchasing an additional 3,656,945 shares during the period. Finally, Norges Bank purchased a new stake in shares of NU in the fourth quarter valued at about $763,792,000. 84.02% of the stock is owned by institutional investors and hedge funds.

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.