Sumitomo Mitsui Trust Group Inc. Has $272.74 Million Stock Position in Nu Holdings Ltd. $NU

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Nu Holdings Ltd. (NYSE:NU) by 48.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,979,529 shares of the company’s stock after purchasing an additional 6,159,298 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.39% of NU worth $272,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its holdings in shares of NU by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock worth $4,306,481,000 after buying an additional 5,797,365 shares in the last quarter. Morgan Stanley boosted its holdings in shares of NU by 2.9% in the 4th quarter. Morgan Stanley now owns 121,350,701 shares of the company’s stock worth $2,031,411,000 after acquiring an additional 3,419,077 shares in the last quarter. State Street Corp boosted its holdings in shares of NU by 0.3% in the 3rd quarter. State Street Corp now owns 91,478,395 shares of the company’s stock worth $1,464,569,000 after acquiring an additional 239,660 shares in the last quarter. Norges Bank bought a new stake in NU during the 4th quarter worth approximately $763,792,000. Finally, Price T Rowe Associates Inc. MD grew its position in NU by 11.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,602,086 shares of the company’s stock worth $713,160,000 after acquiring an additional 4,215,824 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on NU. Itau BBA Securities reiterated an “outperform” rating on shares of NU in a research report on Tuesday, March 17th. Bank of America restated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Needham & Company LLC began coverage on NU in a research note on Friday, June 26th. They issued a “buy” rating and a $17.00 target price for the company. Susquehanna cut NU from a “positive” rating to a “neutral” rating and cut their price target for the company from $18.00 to $13.00 in a report on Wednesday, June 3rd. Finally, Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.24.

NU Price Performance

NU stock opened at $13.35 on Thursday. The stock has a market cap of $64.80 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 0.54 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The business’s 50-day simple moving average is $12.96 and its 200 day simple moving average is $14.91.

NU (NYSE:NU) last posted its quarterly earnings results 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). NU had a return on equity of 30.91% and a net margin of 18.20%.The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. As a group, research analysts anticipate that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

NU announced that its Board of Directors has approved a share repurchase plan on Thursday, June 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other NU news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $12.24, for a total value of $257,040.00. Following the transaction, the director owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

About NU

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.