SEB Asset Management AB Makes New Investment in Nu Holdings Ltd. $NU

SEB Asset Management AB bought a new stake in shares of Nu Holdings Ltd. (NYSE:NU) in the 1st quarter, HoldingsChannel reports. The fund bought 2,370,664 shares of the company’s stock, valued at approximately $34,066,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in shares of NU in the 4th quarter worth about $763,792,000. Larch Capital Partners LLC bought a new stake in shares of NU during the 4th quarter valued at about $605,829,000. Jennison Associates LLC raised its stake in NU by 82.6% during the fourth quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock worth $659,067,000 after acquiring an additional 17,809,644 shares during the period. Atmos Capital Gestao DE Recursos LTDA. raised its stake in NU by 109.1% during the fourth quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 29,813,810 shares of the company’s stock worth $499,083,000 after acquiring an additional 15,552,726 shares during the period. Finally, Marshall Wace LLP lifted its holdings in NU by 98.4% in the third quarter. Marshall Wace LLP now owns 29,141,505 shares of the company’s stock worth $466,555,000 after acquiring an additional 14,449,834 shares during the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NU

In other news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction of $257,040.00. Following the sale, the director owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

NU Stock Up 0.1%

NU stock opened at $13.60 on Monday. The stock has a market cap of $66.06 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 0.54 and a beta of 0.95. The firm’s 50-day simple moving average is $12.89 and its 200 day simple moving average is $14.77. 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 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 earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a net margin of 18.20% and a return on equity of 30.91%. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. As a group, sell-side analysts predict that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU declared that its Board of Directors has initiated a share repurchase program on Thursday, June 4th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Zacks Research downgraded NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. CICC Research initiated coverage on NU in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target on the stock. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price target on the stock. in a report on Wednesday, June 3rd. Bank of America restated an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. upped their price objective on NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.24.

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.