NU (NYSE:NU) Receives Underperform Rating from Bank of America

NU (NYSE:NU)‘s stock had its “underperform” rating reaffirmed by Bank of America in a research note issued on Tuesday,Benzinga reports.

Several other research analysts have also recently issued reports on the stock. UBS Group cut their price target on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a report on Wednesday, May 20th. Itau BBA Securities reissued an “outperform” rating on shares of NU in a report on Tuesday, March 17th. CICC Research assumed coverage on shares of NU in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target for the company. Zacks Research cut shares of NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings cut shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, NU currently has a consensus rating of “Moderate Buy” and an average target price of $18.39.

NU Trading Down 1.3%

NYSE NU opened at $12.97 on Tuesday. The stock has a market capitalization of $62.95 billion, a P/E ratio of 19.95, a P/E/G ratio of 0.52 and a beta of 0.95. NU has a 52-week low of $11.71 and a 52-week high of $18.98. The firm has a 50-day moving average price of $13.98 and a 200 day moving average price of $15.64. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36.

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). 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%. Equities research analysts expect that NU will post 0.84 EPS for the current year.

Insider Activity at NU

In other news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the sale, the director directly owned 162,150 shares in the company, valued at $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total transaction of $4,443,000.00. Following the completion of the sale, the chief executive officer owned 2,312,338 shares in the company, valued at $34,245,725.78. This represents a 11.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Trading of NU

Several large investors have recently modified their holdings of the business. Baillie Gifford & Co. grew its position in shares of NU by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock valued at $4,306,481,000 after purchasing an additional 5,797,365 shares during the last quarter. Morgan Stanley grew its position in shares of NU by 2.9% in the fourth quarter. Morgan Stanley now owns 121,350,701 shares of the company’s stock valued at $2,031,411,000 after purchasing an additional 3,419,077 shares during the last quarter. State Street Corp grew its position in shares of NU by 0.3% in the third quarter. State Street Corp now owns 91,478,395 shares of the company’s stock valued at $1,464,569,000 after purchasing an additional 239,660 shares during the last quarter. WCM Investment Management LLC grew its position in shares of NU by 0.9% in the third quarter. WCM Investment Management LLC now owns 74,478,698 shares of the company’s stock valued at $1,187,935,000 after purchasing an additional 659,526 shares during the last quarter. Finally, Bank of America Corp DE grew its position 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 valued at $660,545,000 after purchasing an additional 3,656,945 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.

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.