Monness Crespi & Hardt Begins Coverage on NU (NYSE:NU)

Analysts at Monness Crespi & Hardt initiated coverage on shares of NU (NYSE:NU) in a report issued on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Monness Crespi & Hardt‘s target price indicates a potential upside of 31.72% from the stock’s current price.

A number of other research analysts have also recently issued reports on NU. Weiss Ratings cut shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Rothschild & Co Redburn set a $19.00 price objective on shares of NU in a research note on Monday, September 28th. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $20.00 to $18.00 in a report on Wednesday, September 16th. Wolfe Research decreased their target price on shares of NU from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, August 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of NU from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, NU currently has an average rating of “Moderate Buy” and an average price target of $18.25.

NU Stock Performance

Shares of NU stock opened at $15.18 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $73.73 billion, a P/E ratio of 20.52, a P/E/G ratio of 0.62 and a beta of 0.95. The business has a fifty day simple moving average of $14.57 and a two-hundred day simple moving average of $13.95. NU has a 12 month low of $11.20 and a 12 month high of $18.98.

NU (NYSE:NU) last announced its earnings results on Tuesday, June 30th. The company reported $0.22 EPS for the quarter. The firm had revenue of $5.88 billion for the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. On average, equities analysts forecast that NU will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at NU

In other news, CEO Cristina Junqueira sold 25,000 shares of NU stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $15.01, for a total value of $375,250.00. Following the completion of the transaction, the chief executive officer owned 4,877,593 shares of the company’s stock, valued at $73,212,670.93. The trade was a 0.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of NU stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $15.81, for a total value of $3,505,187.67. Following the completion of the transaction, the insider directly owned 979,446 shares of the company’s stock, valued at approximately $15,485,041.26. This represents a 18.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 386,707 shares of company stock worth $6,001,588 over the last three months.

Hedge Funds Weigh In On NU

A number of hedge funds have recently bought and sold shares of NU. Apollon Wealth Management LLC bought a new stake in NU during the 3rd quarter valued at about $131,000. Signaturefd LLC raised its holdings in NU by 9.9% in the third quarter. Signaturefd LLC now owns 22,340 shares of the company’s stock worth $283,000 after buying an additional 2,009 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of NU by 10.2% in the third quarter. Citizens Financial Group Inc. RI now owns 72,383 shares of the company’s stock worth $916,000 after buying an additional 6,674 shares in the last quarter. Taylor Frigon Capital Management LLC bought a new position in shares of NU in the third quarter worth approximately $2,395,000. Finally, Wedbush Securities Inc. lifted its stake in shares of NU by 12.9% in the third quarter. Wedbush Securities Inc. now owns 17,484 shares of the company’s stock worth $221,000 after buying an additional 1,996 shares in the last quarter. Institutional investors own 84.02% of the company’s stock.

About NU

Nubank (NYSE: NU) is a digital financial services company headquartered in São Paulo, Brazil. Founded in 2013, the company was established to simplify banking through technology and expand access to financial services in markets traditionally served by large, conventional institutions.

Nubank offers a range of consumer and business products, including digital bank accounts, credit cards, personal loans, payment services, investment products and insurance. Its platform is designed to allow customers to manage accounts, payments and other financial products through mobile applications and other digital channels.

The company primarily serves customers in Brazil, Mexico and Colombia.