Needham & Company LLC Reaffirms “Buy” Rating for NU (NYSE:NU)

NU (NYSE:NU)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Monday, Benzinga reports. They currently have a $19.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 45.54% from the stock’s current price.

A number of other research firms have also weighed in on NU. JPMorgan Chase & Co. raised their price objective on shares of NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Scotiabank cut shares of NU to a “sector perform” rating and set a $13.00 price target on the stock. in a report on Wednesday, June 3rd. UBS Group raised their price target on shares of NU from $16.90 to $18.20 and gave the company a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings cut NU from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, Susquehanna increased their target price on NU from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NU presently has an average rating of “Moderate Buy” and a consensus target price of $18.02.

NU Stock Down 1.8%

NU stock traded down $0.24 during mid-day trading on Monday, hitting $13.06. The company had a trading volume of 22,943,704 shares, compared to its average volume of 63,506,852. NU has a 12 month low of $11.20 and a 12 month high of $18.98. The company has a market capitalization of $63.39 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 0.52 and a beta of 0.95. The stock’s 50 day moving average price is $14.29 and its two-hundred day moving average price is $13.84. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35.

NU (NYSE:NU) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.22 earnings per share for the quarter. The firm had revenue of $5.88 billion during the quarter. NU had a return on equity of 31.59% and a net margin of 18.65%. As a group, sell-side analysts anticipate that NU will post 0.86 earnings per share for the current fiscal year.

NU announced that its board has approved a share repurchase plan on Thursday, June 4th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at NU

In other NU news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the firm’s 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 transaction, the insider directly owned 979,446 shares of the company’s stock, valued at approximately $15,485,041.26. This trade represents a 18.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Cristina Junqueira sold 65,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total value of $956,150.00. Following the sale, the chief executive officer owned 2,542,083 shares of the company’s stock, valued at approximately $37,394,040.93. This represents a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 361,707 shares of company stock worth $5,626,338. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NU

Hedge funds have recently modified their holdings of the business. Waverly Advisors LLC grew its stake in NU by 6.4% during the second quarter. Waverly Advisors LLC now owns 12,933 shares of the company’s stock valued at $173,000 after acquiring an additional 783 shares in the last quarter. World Investment Advisors grew its position in shares of NU by 5.1% during the first quarter. World Investment Advisors now owns 16,370 shares of the company’s stock valued at $235,000 after purchasing an additional 791 shares in the last quarter. Mason & Associates Inc grew its position in shares of NU by 2.7% during the first quarter. Mason & Associates Inc now owns 30,783 shares of the company’s stock valued at $416,000 after purchasing an additional 808 shares in the last quarter. United Asset Strategies Inc. increased its holdings in shares of NU by 1.6% in the first quarter. United Asset Strategies Inc. now owns 54,216 shares of the company’s stock worth $779,000 after purchasing an additional 837 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of NU by 1.9% in the second quarter. Legacy Wealth Asset Management LLC now owns 50,790 shares of the company’s stock worth $679,000 after buying an additional 935 shares in the last quarter. Institutional investors own 84.02% of the company’s stock.

NU Company Profile

Nu Holdings Ltd., operating under the Nubank brand, is a digital financial services company that provides banking and payment products primarily through mobile applications. The company offers digital accounts, credit cards, personal loans, payment services, investment products and insurance, serving consumers and small businesses.

Nubank was founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible with the goal of expanding access to simpler, lower-cost financial services through technology.