Entropy Technologies LP Buys 302,607 Shares of Nu Holdings Ltd. $NU

Entropy Technologies LP lifted its position in Nu Holdings Ltd. (NYSE:NU) by 489.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 364,456 shares of the company’s stock after purchasing an additional 302,607 shares during the period. Entropy Technologies LP’s holdings in NU were worth $5,237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NU. Modern Wealth Management LLC bought a new stake in NU during the 1st quarter valued at $576,000. Siren L.L.C. bought a new position in shares of NU during the 1st quarter worth $359,000. Bank of Nova Scotia increased its stake in shares of NU by 855.9% during the first quarter. Bank of Nova Scotia now owns 16,111,616 shares of the company’s stock valued at $231,524,000 after buying an additional 14,426,181 shares during the period. Sei Investments Co. increased its stake in shares of NU by 21.2% during the first quarter. Sei Investments Co. now owns 9,336,677 shares of the company’s stock valued at $134,168,000 after buying an additional 1,635,019 shares during the period. Finally, Lido Advisors LLC bought a new stake in shares of NU in the first quarter valued at about $3,640,000. Institutional investors own 84.02% of the company’s stock.

Analysts Set New Price Targets

NU has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on shares of NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Bank of America restated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Susquehanna downgraded shares of NU from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $13.00 in a research note on Wednesday, June 3rd. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a research note on Wednesday, June 3rd. Finally, Needham & Company LLC began 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. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.24.

NU Stock Performance

Shares of NU stock opened at $14.12 on Friday. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The business’s fifty day simple moving average is $13.02 and its 200-day simple moving average is $14.69. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The company has a market cap of $68.54 billion, a PE ratio of 21.72, a PEG ratio of 0.56 and a beta of 0.95.

NU (NYSE:NU) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. Analysts expect 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 stock buyback plan on Thursday, June 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

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 completion of the sale, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

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.