Nu Holdings Ltd. (NYSE:NU) Receives $17.92 Average PT from Analysts

Shares of Nu Holdings Ltd. (NYSE:NU) have been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $17.92.

Several brokerages have issued reports on NU. Wolfe Research cut their price target on NU from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Weiss Ratings lowered NU from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Bank of America reaffirmed an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Susquehanna boosted their price target on shares of NU from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Finally, UBS Group upped their price objective on shares of NU from $16.90 to $18.20 and gave the stock a “buy” rating in a report on Thursday, August 20th.

NU Price Performance

Shares of NYSE NU opened at $14.18 on Friday. The firm has a market capitalization of $68.86 billion, a P/E ratio of 19.16, a P/E/G ratio of 0.57 and a beta of 0.94. The firm’s 50-day moving average price is $14.43 and its 200-day moving average price is $13.91. 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 has a 1-year low of $11.20 and a 1-year high of $18.98.

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

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

Insider Activity

In other NU news, 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 transaction of $3,505,187.67. Following the completion of the transaction, the insider owned 979,446 shares in the company, valued at approximately $15,485,041.26. The trade was a 18.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cristina Junqueira sold 65,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total value of $956,150.00. Following the completion of the sale, the chief executive officer directly owned 2,542,083 shares of the company’s stock, valued at approximately $37,394,040.93. This trade 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 ninety days, insiders sold 361,707 shares of company stock worth $5,626,338.

Hedge Funds Weigh In On NU

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in NU by 990.3% in the first quarter. Dimensional Fund Advisors LP now owns 298,789 shares of the company’s stock worth $4,294,000 after buying an additional 271,385 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in NU by 5.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 2,770,572 shares of the company’s stock worth $37,015,000 after acquiring an additional 146,764 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in NU by 8.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 904,485 shares of the company’s stock worth $12,997,000 after acquiring an additional 73,818 shares during the last quarter. Deepwater Asset Management LLC raised its stake in NU by 11.9% in the 4th quarter. Deepwater Asset Management LLC now owns 997,890 shares of the company’s stock valued at $16,705,000 after acquiring an additional 105,994 shares during the period. Finally, Mawer Investment Management Ltd. raised its stake in NU by 578.0% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,585,720 shares of the company’s stock valued at $76,765,000 after acquiring an additional 3,909,320 shares during the period. 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, payments and credit products through mobile applications. Its offerings include digital bank accounts, credit cards, personal loans, payment services, investment products and insurance, serving consumers and small businesses.

Founded in Brazil in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nubank was established to simplify financial services and expand access to banking through technology.