Nu Holdings Ltd. $NU Position Lifted by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,009,638 shares of the company’s stock after acquiring an additional 104,664 shares during the period. California Public Employees Retirement System owned about 0.12% of NU worth $86,358,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its position in shares of NU by 14,810.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock worth $25,000 after purchasing an additional 1,481 shares during the last quarter. LOM Asset Management Ltd bought a new stake in NU in the fourth quarter valued at about $25,000. Zions Bancorporation National Association UT bought a new stake in NU in the fourth quarter valued at about $27,000. Cornerstone Planning Group LLC increased its holdings in NU by 5,448.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock valued at $27,000 after buying an additional 1,580 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in NU during the fourth quarter valued at approximately $31,000. Institutional investors own 84.02% of the company’s stock.

Insider Activity

In related news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $12.24, for a total value of $257,040.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

NU Price Performance

Shares of NYSE:NU opened at $13.60 on Monday. The company has a market cap of $66.06 billion, a PE ratio of 20.93, a P/E/G ratio of 0.54 and a beta of 0.95. Nu Holdings Ltd. has a fifty-two week low of $11.20 and a fifty-two week high of $18.98. The firm has a 50-day simple moving average of $12.89 and a 200 day simple moving average of $14.77. 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 issued 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). The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. On average, sell-side analysts anticipate that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU announced that its Board of Directors has authorized a stock buyback program on Thursday, June 4th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Susquehanna downgraded NU from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $13.00 in a report on Wednesday, June 3rd. Bank of America reiterated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. UBS Group dropped their price target on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Zacks Research cut NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Finally, Needham & Company LLC initiated coverage on shares of NU in a report on Friday, June 26th. They issued a “buy” rating and a $17.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NU has a consensus rating of “Moderate Buy” and a consensus 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.