Nu Holdings Ltd. $NU Stock: Russell Investments Group Ltd. Boosts Position

Russell Investments Group Ltd. increased its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 1.1% during the third quarter, HoldingsChannel reports. The fund owned 6,610,035 shares of the company’s stock after buying an additional 74,703 shares during the period. Russell Investments Group Ltd.’s holdings in NU were worth $83,608,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NU. GK Wealth Management LLC purchased a new position in NU in the third quarter worth $31,000. Harbor Investment Advisory LLC boosted its position in shares of NU by 68.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 3,010 shares of the company’s stock worth $40,000 after purchasing an additional 1,220 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of NU during the 2nd quarter worth $76,000. EverSource Wealth Advisors LLC grew its stake in shares of NU by 58.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,468 shares of the company’s stock worth $93,000 after purchasing an additional 2,377 shares during the period. Finally, TD Waterhouse Canada Inc. grew its stake in shares of NU by 48.7% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 6,755 shares of the company’s stock worth $90,000 after purchasing an additional 2,213 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Price Performance

NU stock traded up $1.31 during midday trading on Friday, hitting $13.14. 152,506,468 shares of the stock were exchanged, compared to its average volume of 84,930,656. The stock’s 50-day moving average price is $13.76 and its 200-day moving average price is $14.22. The stock has a market cap of $63.79 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 0.49 and a beta of 0.97. Nu Holdings Ltd. has a fifty-two week low of $11.20 and a fifty-two week 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 posted its earnings results on Thursday, November 12th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.96 billion. NU had a return on equity of 32.54% and a net margin of 18.66%. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Research analysts predict that Nu Holdings Ltd. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NU shares. Rothschild & Co Redburn set a $19.00 price target on shares of NU in a report on Monday, September 28th. Wolfe Research decreased their price objective on shares of NU from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. JPMorgan Chase & Co. upped their target price on shares of NU from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Itau BBA Securities lowered shares of NU from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $20.00 to $18.00 in a research report on Wednesday, September 16th. Finally, Weiss Ratings raised shares of NU from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, November 9th. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

Top NU Stories

These are some of the NU stories that stood out recently:

• Positive Sentiment: Nu reported record Q3 revenue of $6.26 billion, topping the roughly $5.96 billion analyst estimate, and record net income of $1.09 billion. EPS was $0.22, just below the $0.23 estimate cited by some analysts. Article: Nu Holdings Surges on Record Q3 Earnings Beat
• Positive Sentiment: Needham reaffirmed its Buy rating and set a $19 price target, while unusually high call-option activity also pointed to increased bullish positioning. Needham rating information
• Negative Sentiment: Rising non-performing loans remain a risk investors are watching, and reported EPS came in slightly below some consensus estimates despite the revenue beat. Article: Nu Holdings Earnings and Investor Concerns

Insider Activity

In other news, CEO Cristina Junqueira sold 65,000 shares of NU stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total transaction of $956,150.00. Following the completion of the transaction, the chief executive officer owned 2,542,083 shares of the company’s stock, valued at $37,394,040.93. The trade was a 2.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 115,000 shares of company stock worth $1,706,400. Insiders own 1.20% of the company’s stock.

About NU

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.