Nu Holdings Ltd. $NU Holdings Trimmed by SurgoCap Partners LP

SurgoCap Partners LP decreased its stake in Nu Holdings Ltd. (NYSE:NU) by 24.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,520,395 shares of the company’s stock after selling 3,485,034 shares during the period. NU accounts for about 4.9% of SurgoCap Partners LP’s holdings, making the stock its 9th biggest position. SurgoCap Partners LP owned about 0.22% of NU worth $176,111,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in NU by 14,810.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock worth $25,000 after acquiring an additional 1,481 shares during the period. LOM Asset Management Ltd bought a new stake in NU in the fourth quarter worth about $25,000. Zions Bancorporation National Association UT bought a new stake in NU in the fourth quarter worth about $27,000. Cornerstone Planning Group LLC raised its position in NU by 5,448.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock worth $27,000 after acquiring an additional 1,580 shares during the period. Finally, Morse Asset Management Inc bought a new stake in NU in the fourth quarter worth about $31,000. Institutional investors own 84.02% of the company’s stock.

NU Stock Performance

NYSE NU opened at $12.45 on Tuesday. The company’s 50 day moving average is $13.54 and its 200-day moving average is $15.37. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The firm has a market cap of $60.43 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 0.49 and a beta of 0.95.

NU (NYSE:NU) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. Sell-side analysts predict that Nu Holdings Ltd. will post 0.84 earnings per share for the current year.

NU announced that its board has authorized a share buyback program on Thursday, June 4th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

NU has been the topic of several research reports. UBS Group lowered their price objective on shares of NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a research report on Wednesday, June 3rd. Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. CICC Research initiated coverage on shares of NU in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a research report on Tuesday, March 17th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, NU has a consensus rating of “Moderate Buy” and an average target price of $17.08.

Insider Activity at NU

In other news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total value of $4,443,000.00. Following the sale, the chief executive officer owned 2,312,338 shares of the company’s stock, valued at $34,245,725.78. The trade was a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 21,000 shares of the business’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 transaction of $257,040.00. Following the completion of the sale, the director directly owned 162,150 shares in the company, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their position. The disclosure for this sale is available in the SEC filing.

NU 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.