Nu Holdings Ltd. $NU Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in shares of Nu Holdings Ltd. (NYSE:NU) by 115.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,290 shares of the company’s stock after buying an additional 80,034 shares during the quarter. Principal Financial Group Inc.’s holdings in NU were worth $2,145,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its holdings in NU by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock valued at $4,306,481,000 after acquiring an additional 5,797,365 shares during the last quarter. Morgan Stanley grew its stake 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 purchasing an additional 3,419,077 shares during the last quarter. State Street Corp grew its stake 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 purchasing an additional 239,660 shares during the last quarter. Norges Bank bought a new stake in shares of NU in the 4th quarter worth approximately $763,792,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of NU by 11.0% in 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 purchasing an additional 4,215,824 shares in the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on NU shares. Susquehanna lowered shares of NU from a “positive” rating to a “neutral” rating and cut their target price for the company from $18.00 to $13.00 in a research note on Wednesday, June 3rd. Weiss Ratings cut NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Bank of America reaffirmed an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. JPMorgan Chase & Co. increased their price objective on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, UBS Group reduced their price objective on NU from $18.10 to $16.90 and set a “buy” rating for the company 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, NU presently has a consensus rating of “Moderate Buy” and an average target price of $17.24.

NU Price Performance

NU stock opened at $14.52 on Friday. 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 Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The firm has a market capitalization of $70.50 billion, a PE ratio of 22.34, a P/E/G ratio of 0.56 and a beta of 0.95. The firm has a 50-day moving average of $13.16 and a two-hundred day moving average of $14.58.

NU (NYSE:NU) last announced its earnings results on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $5.06 billion. On average, analysts forecast that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

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

Insider Activity at NU

In related news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the transaction, the director owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

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.