Nu Holdings Ltd. $NU Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its position in shares of Nu Holdings Ltd. (NYSE:NU) by 29.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,117,404 shares of the company’s stock after selling 460,186 shares during the quarter. Royal Bank of Canada’s holdings in NU were worth $16,057,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sowell Financial Services LLC boosted 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 purchasing an additional 599 shares during the last quarter. Parallel Advisors LLC raised its position in shares of NU by 3.7% in the fourth quarter. Parallel Advisors LLC now owns 16,820 shares of the company’s stock valued at $282,000 after buying an additional 601 shares during the last quarter. MBM Wealth Consultants LLC lifted its stake in shares of NU by 1.2% in the fourth quarter. MBM Wealth Consultants LLC now owns 50,284 shares of the company’s stock worth $842,000 after buying an additional 607 shares in the last quarter. Cornerstone Wealth Group LLC lifted its stake in shares of NU by 1.2% in the fourth quarter. Cornerstone Wealth Group LLC now owns 51,724 shares of the company’s stock worth $866,000 after buying an additional 621 shares in the last quarter. Finally, Aptus Capital Advisors LLC boosted its position in NU by 3.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 19,008 shares of the company’s stock worth $318,000 after acquiring an additional 624 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Insider Activity

In other news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction that occurred on 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 approximately $1,984,716. The trade was a 11.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

NU Trading Down 2.6%

Shares of NU opened at $14.10 on Friday. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The firm has a market capitalization of $68.48 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.58 and a beta of 0.94. The firm has a 50-day moving average price of $13.30 and a 200 day moving average price of $14.50. 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 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). The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU announced that its board has approved a share buyback plan 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 plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NU shares. Weiss Ratings cut shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 target price on the stock. in a research note on Wednesday, June 3rd. CICC Research began coverage on NU in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target for the company. UBS Group cut their price target on NU from $18.10 to $16.90 and set a “buy” rating for the company in a report on Wednesday, May 20th. Finally, Needham & Company LLC initiated coverage on NU in a research report on Friday, June 26th. They set a “buy” rating and a $17.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, NU currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.24.

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.