Commonwealth Equity Services LLC Cuts Position in Nu Holdings Ltd. $NU

Commonwealth Equity Services LLC cut its stake in Nu Holdings Ltd. (NYSE:NU) by 16.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 356,078 shares of the company’s stock after selling 71,881 shares during the quarter. Commonwealth Equity Services LLC’s holdings in NU were worth $5,961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sowell Financial Services LLC grew its stake in NU by 4.8% during the 4th quarter. Sowell Financial Services LLC now owns 12,952 shares of the company’s stock worth $217,000 after buying an additional 599 shares during the last quarter. Parallel Advisors LLC grew its stake in NU by 3.7% during the 4th quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock worth $282,000 after buying an additional 601 shares during the last quarter. MBM Wealth Consultants LLC grew its stake in NU by 1.2% during the 4th quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock worth $842,000 after buying an additional 607 shares during the last quarter. Cornerstone Wealth Group LLC grew its stake in NU by 1.2% during the 4th quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after buying an additional 621 shares during the last quarter. Finally, Euro Pacific Asset Management LLC grew its stake in NU by 0.3% during the 4th quarter. Euro Pacific Asset Management LLC now owns 233,618 shares of the company’s stock worth $3,642,000 after buying an additional 708 shares during the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Itau BBA Securities restated an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. Weiss Ratings downgraded NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Susquehanna downgraded NU from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $13.00 in a research note on Wednesday. CICC Research assumed coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, UBS Group dropped their target price on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NU currently has an average rating of “Moderate Buy” and an average price target of $17.08.

NU Stock Performance

Shares of NU opened at $11.97 on Friday. The stock has a 50-day moving average of $13.79 and a two-hundred day moving average of $15.53. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market cap of $58.10 billion, a P/E ratio of 18.41, a P/E/G ratio of 0.48 and a beta of 0.95.

NU (NYSE:NU) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. As a group, research analysts predict that Nu Holdings Ltd. will post 0.84 EPS for the current year.

NU announced that its Board of Directors has approved a share buyback program 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. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction dated Friday, May 15th. The stock was 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 approximately $1,984,716. The trade was a 11.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of NU stock in a transaction dated 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 sale, the chief executive officer directly owned 2,312,338 shares of the company’s stock, valued at approximately $34,245,725.78. This represents a 11.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.20% of the company’s stock.

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.