Atreides Management LP Has $54.79 Million Stock Holdings in Nu Holdings Ltd. $NU

Atreides Management LP lifted its stake in Nu Holdings Ltd. (NYSE:NU) by 30.4% during the fourth quarter, HoldingsChannel reports. The fund owned 3,272,998 shares of the company’s stock after purchasing an additional 763,609 shares during the quarter. NU comprises approximately 0.7% of Atreides Management LP’s holdings, making the stock its 29th biggest position. Atreides Management LP’s holdings in NU were worth $54,790,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its stake in shares of NU by 14,810.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock worth $25,000 after acquiring an additional 1,481 shares during the last quarter. LOM Asset Management Ltd acquired a new position in shares of NU in the fourth quarter worth $25,000. Zions Bancorporation National Association UT acquired a new position in shares of NU in the fourth quarter worth $27,000. Cornerstone Planning Group LLC increased its stake in shares of NU by 5,448.3% in the fourth 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 during the last quarter. Finally, Morse Asset Management Inc acquired a new position in shares of NU in the fourth quarter worth $31,000. 84.02% of the stock is owned by institutional investors and hedge funds.

NU Trading Up 1.2%

Shares of NYSE:NU opened at $12.87 on Thursday. The stock has a market capitalization of $62.48 billion, a PE ratio of 19.80, a P/E/G ratio of 0.51 and a beta of 0.95. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The firm has a fifty day moving average price of $13.49 and a 200 day moving average price of $15.30. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36.

NU (NYSE:NU) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. Analysts expect that Nu Holdings Ltd. will post 0.84 EPS for the current fiscal year.

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

Insiders Place Their Bets

In related news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total value of $4,443,000.00. Following the completion of the sale, the chief executive officer directly owned 2,312,338 shares in the company, valued at approximately $34,245,725.78. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction of $257,040.00. Following the sale, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NU. Zacks Research downgraded shares of NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. CICC Research began coverage on shares of NU in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Scotiabank downgraded 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. Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. Finally, Weiss Ratings cut shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.08.

NU Company 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.