Lazard Asset Management LLC Increases Stock Holdings in Nu Holdings Ltd. $NU

Lazard Asset Management LLC boosted its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 55.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,748,533 shares of the company’s stock after buying an additional 976,963 shares during the period. Lazard Asset Management LLC owned approximately 0.06% of NU worth $39,496,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NU. EverSource Wealth Advisors LLC lifted its position in shares of NU by 63.5% during the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock valued at $52,000 after buying an additional 1,464 shares during the last quarter. Jump Financial LLC grew its stake in shares of NU by 541.8% during the second quarter. Jump Financial LLC now owns 185,434 shares of the company’s stock worth $2,544,000 after acquiring an additional 156,539 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of NU by 38.5% during the second quarter. WINTON GROUP Ltd now owns 37,156 shares of the company’s stock valued at $510,000 after acquiring an additional 10,332 shares in the last quarter. AXA S.A. raised its holdings in shares of NU by 1.4% in the second quarter. AXA S.A. now owns 192,311 shares of the company’s stock worth $2,639,000 after buying an additional 2,682 shares during the last quarter. Finally, Nebula Research & Development LLC lifted its stake in shares of NU by 63.7% during the second quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock worth $274,000 after buying an additional 7,760 shares during the period. 84.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NU has been the topic of a number of research analyst reports. Needham & Company LLC assumed coverage on shares of NU in a report on Friday, June 26th. They set a “buy” rating and a $17.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Bank of America reiterated an “underperform” rating on shares of NU in a research note on Tuesday, June 2nd. Susquehanna lowered NU from a “positive” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $13.00 in a report on Wednesday, June 3rd. Finally, Scotiabank cut NU to a “sector perform” rating and set a $13.00 price objective for the company. in a research note on Wednesday, June 3rd. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.24.

NU Stock Performance

NYSE:NU opened at $14.71 on Wednesday. The company has a market cap of $71.43 billion, a P/E ratio of 22.63, a P/E/G ratio of 0.58 and a beta of 0.95. 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 twelve month low of $11.20 and a twelve month high of $18.98. The company’s 50-day moving average price is $13.11 and its 200-day moving average price is $14.63.

NU (NYSE:NU) last posted its quarterly 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). The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. On average, sell-side analysts forecast that Nu Holdings Ltd. will post 0.83 earnings per share for the current fiscal year.

NU declared that its Board of Directors has approved a share repurchase plan on Thursday, June 4th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other NU news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction dated 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 transaction, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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.