Nu Holdings Ltd. $NU Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its holdings in Nu Holdings Ltd. (NYSE:NU) by 8.9% during the 1st quarter, Holdings Channel reports. The firm owned 35,850,092 shares of the company’s stock after selling 3,520,699 shares during the quarter. Jennison Associates LLC’s holdings in NU were worth $515,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its position in shares of NU by 14,810.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock valued at $25,000 after buying an additional 1,481 shares in the last quarter. LOM Asset Management Ltd purchased a new stake in NU in the 4th quarter worth $25,000. Zions Bancorporation National Association UT purchased a new stake in NU in the 4th quarter worth $27,000. Cornerstone Planning Group LLC increased its holdings in NU by 5,448.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock worth $27,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new position in NU during the fourth quarter worth $31,000. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction on 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 sale, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on NU shares. Needham & Company LLC initiated coverage on shares of NU in a report on Friday, June 26th. They set a “buy” rating and a $17.00 price objective on the stock. Susquehanna cut shares of NU from a “positive” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $13.00 in a research note on Wednesday, June 3rd. CICC Research started coverage on shares of NU in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target for the company. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price target on the stock. in a research note on Wednesday, June 3rd. Finally, Zacks Research cut NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Ten research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.24.

NU Stock Down 1.3%

Shares of NU opened at $13.60 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The stock has a market capitalization of $66.06 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 0.54 and a beta of 0.95. The stock has a 50 day moving average price of $12.89 and a 200 day moving average price of $14.78.

NU (NYSE:NU) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $5.32 billion during 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 research analysts forecast that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU declared that its board has authorized a share repurchase program on Thursday, June 4th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is 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.