Mirae Asset Global Investments Co. Ltd. Acquires 145,787 Shares of Nu Holdings Ltd. $NU

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Nu Holdings Ltd. (NYSE:NU) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 145,787 shares of the company’s stock, valued at approximately $1,846,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of NU by 8.6% in the first quarter. Bank of America Corp DE now owns 45,966,932 shares of the company’s stock worth $660,545,000 after acquiring an additional 3,656,945 shares during the period. Assenagon Asset Management S.A. grew its position in shares of NU by 127.0% during the third quarter. Assenagon Asset Management S.A. now owns 38,263,897 shares of the company’s stock worth $484,421,000 after purchasing an additional 21,405,374 shares in the last quarter. Maverick Capital Ltd. grew its position in shares of NU by 91.6% during the first quarter. Maverick Capital Ltd. now owns 22,444,311 shares of the company’s stock worth $322,525,000 after purchasing an additional 10,729,747 shares in the last quarter. Squadra Investments Gestao DE Recursos LTDA. lifted its holdings in NU by 266.8% in the 1st quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company’s stock worth $320,631,000 after purchasing an additional 16,229,515 shares in the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings in NU by 24.8% during the 1st quarter. Coronation Fund Managers Ltd. now owns 17,973,549 shares of the company’s stock valued at $258,280,000 after buying an additional 3,570,451 shares in the last quarter. 84.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on NU. Monness Crespi & Hardt initiated coverage on shares of NU in a research report on Monday, October 26th. They set a “buy” rating and a $20.00 target price for the company. UBS Group lifted their price target on shares of NU from $18.20 to $20.50 and gave the company a “buy” rating in a report on Tuesday, October 20th. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $20.00 to $18.00 in a research note on Wednesday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of NU from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings downgraded shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 21st. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.25.

Insider Buying and Selling at NU

In other NU news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $15.81, for a total value of $3,505,187.67. Following the completion of the transaction, the insider owned 979,446 shares of the company’s stock, valued at approximately $15,485,041.26. This trade represents a 18.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Cristina Junqueira sold 25,000 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $15.01, for a total value of $375,250.00. Following the completion of the transaction, the chief executive officer owned 4,877,593 shares of the company’s stock, valued at $73,212,670.93. This trade represents a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 386,707 shares of company stock valued at $6,001,588. Company insiders own 1.20% of the company’s stock.

NU Stock Performance

Shares of NYSE:NU opened at $12.01 on Friday. The firm has a market cap of $58.31 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.50 and a beta of 0.97. The firm’s 50 day simple moving average is $14.01 and its 200-day simple moving average is $14.36. 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 0.35, a quick ratio of 0.55 and a current ratio of 0.55.

NU (NYSE:NU) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 earnings per share for the quarter. The company had revenue of $5.88 billion during the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. As a group, equities analysts predict that Nu Holdings Ltd. will post 0.85 EPS for the current year.

NU Profile

Nu Holdings Ltd., which operates under the Nubank brand, is a digital financial services company founded in Brazil in 2013. It provides banking and related services through mobile apps and other digital channels, with a focus on simplifying access to financial products.

Its offerings include digital accounts, payment cards, credit products, personal loans, and investment services. The company also provides services to small businesses, with products and availability varying by country.

Nu serves customers in Brazil, Mexico, and Colombia.