Sei Investments Co. Increases Stake in Nu Holdings Ltd. $NU

Sei Investments Co. raised its position in shares of Nu Holdings Ltd. (NYSE:NU) by 21.2% in the first quarter, Holdings Channel reports. The firm owned 9,336,677 shares of the company’s stock after acquiring an additional 1,635,019 shares during the quarter. Sei Investments Co.’s holdings in NU were worth $134,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Lido Advisors LLC purchased a new position in NU in the first quarter worth about $3,640,000. State of Wyoming increased its position in shares of NU by 16.4% during the first quarter. State of Wyoming now owns 62,980 shares of the company’s stock valued at $905,000 after acquiring an additional 8,889 shares in the last quarter. Cetera Investment Advisers increased its position in shares of NU by 7.1% during the first quarter. Cetera Investment Advisers now owns 419,888 shares of the company’s stock valued at $6,034,000 after acquiring an additional 27,922 shares in the last quarter. Coronation Fund Managers Ltd. raised its holdings in NU by 24.8% in the 1st quarter. Coronation Fund Managers Ltd. now owns 17,973,549 shares of the company’s stock worth $258,280,000 after acquiring an additional 3,570,451 shares during the last quarter. Finally, Mizuho Markets Cayman LP raised its holdings in NU by 33.7% in the 1st quarter. Mizuho Markets Cayman LP now owns 772,786 shares of the company’s stock worth $11,105,000 after acquiring an additional 194,809 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on NU. CICC Research initiated coverage on NU in a research note on Tuesday, April 14th. They set an “outperform” rating and a $18.00 target price on the stock. Weiss Ratings cut NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Needham & Company LLC started coverage on NU in a report on Friday, June 26th. They set a “buy” rating and a $17.00 price target on the stock. JPMorgan Chase & Co. upped their price target on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, UBS Group dropped their price objective on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NU currently has an average rating of “Moderate Buy” and a consensus price target of $17.24.

Insider Activity at NU

In other NU news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $12.24, for a total value of $257,040.00. Following the transaction, the director directly owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.

NU Stock Down 2.1%

Shares of NU stock opened at $14.21 on Friday. The company has a market cap of $68.98 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 0.58 and a beta of 0.95. The company’s 50 day moving average is $12.98 and its 200 day moving average is $14.70. Nu Holdings Ltd. has a twelve month low of $11.20 and a twelve 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.

NU (NYSE:NU) last released its quarterly earnings results on Friday, May 15th. The company reported $0.19 earnings per share 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 the consensus estimate of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. Research analysts anticipate that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU declared that its board has authorized a share buyback program on Thursday, June 4th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.