Rakuten Investment Management Inc. Acquires New Position in Nu Holdings Ltd. $NU

Rakuten Investment Management Inc. bought a new position in shares of Nu Holdings Ltd. (NYSE:NU) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 217,373 shares of the company’s stock, valued at approximately $2,685,000.

A number of other large investors also recently bought and sold shares of NU. Provenance Wealth Advisors LLC acquired a new stake in shares of NU during the 3rd quarter valued at approximately $308,000. IPG Investment Advisors LLC boosted its holdings in NU by 16.1% in the third quarter. IPG Investment Advisors LLC now owns 96,424 shares of the company’s stock worth $1,221,000 after purchasing an additional 13,398 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in NU in the third quarter worth $1,846,000. Vise Technologies Inc. boosted its holdings in NU by 9.3% in the third quarter. Vise Technologies Inc. now owns 35,196 shares of the company’s stock worth $446,000 after purchasing an additional 2,996 shares during the period. Finally, MGO One Seven LLC increased its stake in NU by 24.8% during the third quarter. MGO One Seven LLC now owns 20,190 shares of the company’s stock valued at $256,000 after purchasing an additional 4,015 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

Insider Buying and Selling at NU

In other news, CEO Cristina Junqueira sold 65,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total transaction of $956,150.00. Following the completion of the transaction, the chief executive officer owned 2,542,083 shares in the company, valued at approximately $37,394,040.93. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $15.81, for a total transaction of $3,505,187.67. Following the completion of the sale, the insider directly owned 979,446 shares in the company, valued at approximately $15,485,041.26. This trade represents a 18.46% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 386,707 shares of company stock valued at $6,001,588. Corporate insiders own 1.20% of the company’s stock.

NU Trading Up 2.3%

Shares of NYSE NU opened at $12.01 on Friday. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98. The company has a market cap of $58.31 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 0.50 and a beta of 0.97. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $14.01 and its 200 day simple moving average is $14.36.

NU (NYSE:NU) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 EPS for the quarter. NU had a return on equity of 31.59% and a net margin of 18.65%. The firm had revenue of $5.88 billion during the quarter. Equities research analysts expect that Nu Holdings Ltd. will post 0.85 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of NU in a report on Monday, September 28th. JPMorgan Chase & Co. raised their price target on shares of NU from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Weiss Ratings lowered shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 21st. UBS Group boosted their price objective on shares of NU from $18.20 to $20.50 and gave the company a “buy” rating in a research report on Tuesday, October 20th. Finally, Wolfe Research lowered their price objective on shares of NU from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, August 25th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NU currently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

NU Profile

Nu Holdings Ltd., which operates under the Nubank brand, is a digital financial services company founded in Brazil in 2013. It provides banking and related services through mobile apps and other digital channels, with a focus on simplifying access to financial products.

Its offerings include digital accounts, payment cards, credit products, personal loans, and investment services. The company also provides services to small businesses, with products and availability varying by country.

Nu serves customers in Brazil, Mexico, and Colombia.