Explore Capital Management LLC Decreases Position in Nu Holdings Ltd. $NU

Explore Capital Management LLC cut its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 44.6% during the fourth quarter, HoldingsChannel reports. The firm owned 335,950 shares of the company’s stock after selling 270,000 shares during the quarter. NU comprises 4.7% of Explore Capital Management LLC’s holdings, making the stock its 11th largest position. Explore Capital Management LLC’s holdings in NU were worth $5,624,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NU. Harvest Fund Management Co. Ltd raised its holdings in shares of NU by 20.6% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 102,224 shares of the company’s stock worth $1,712,000 after buying an additional 17,438 shares during the period. Prudential PLC raised its holdings in shares of NU by 2.6% in the fourth quarter. Prudential PLC now owns 172,623 shares of the company’s stock worth $2,890,000 after buying an additional 4,445 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of NU by 89.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 340,882 shares of the company’s stock worth $5,706,000 after buying an additional 160,933 shares during the period. Verus Capital Partners LLC raised its holdings in shares of NU by 25.7% in the fourth quarter. Verus Capital Partners LLC now owns 75,200 shares of the company’s stock worth $1,259,000 after buying an additional 15,366 shares during the period. Finally, Cibc World Market Inc. raised its holdings in shares of NU by 118.3% in the fourth quarter. Cibc World Market Inc. now owns 49,881 shares of the company’s stock worth $835,000 after buying an additional 27,032 shares during the period. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NU has been the topic of several recent analyst reports. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price target on the stock. in a report on Wednesday. Bank of America reiterated an “underperform” rating on shares of NU in a report on Tuesday. UBS Group reduced their price target on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a report on Wednesday, May 20th. CICC Research initiated coverage on NU in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, Zacks Research downgraded NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.08.

Insider Buying and Selling at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction 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 directly 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 document filed with the SEC, which is available through the SEC website. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the firm’s stock in a transaction on 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.20% of the company’s stock.

NU Trading Up 4.3%

NU opened at $12.15 on Friday. The stock’s fifty day moving average is $13.84 and its two-hundred day moving average is $15.55. The company has a market capitalization of $58.97 billion, a P/E ratio of 18.68, a PEG ratio of 0.46 and a beta of 0.95. Nu Holdings Ltd. has a 52 week low of $11.20 and a 52 week 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.

NU (NYSE:NU) last released its quarterly earnings data on Friday, May 15th. The company reported $0.19 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 return on equity of 30.91% and a net margin of 18.20%. Analysts forecast that Nu Holdings Ltd. will post 0.84 earnings per share for the current year.

NU declared that its board has approved a stock repurchase program on Thursday, June 4th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

NU Company 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.