Amova Asset Management Americas Inc. Sells 54,907 Shares of Nu Holdings Ltd. $NU

Amova Asset Management Americas Inc. cut its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,395,488 shares of the company’s stock after selling 54,907 shares during the quarter. Amova Asset Management Americas Inc. owned 0.09% of NU worth $63,163,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NU. Kapitalo Investimentos Ltda bought a new stake in shares of NU in the 1st quarter valued at about $10,002,000. AlTi Global Inc. increased its stake in NU by 2.0% in the 1st quarter. AlTi Global Inc. now owns 65,411 shares of the company’s stock worth $940,000 after purchasing an additional 1,275 shares during the period. Earned Wealth Advisors LLC lifted its position in NU by 15.7% in the first quarter. Earned Wealth Advisors LLC now owns 22,292 shares of the company’s stock valued at $320,000 after purchasing an additional 3,023 shares during the last quarter. Investment Management Associates Inc. ADV lifted its position in NU by 15.6% in the first quarter. Investment Management Associates Inc. ADV now owns 1,073,617 shares of the company’s stock valued at $15,428,000 after purchasing an additional 144,894 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of NU by 990.3% during the first quarter. Dimensional Fund Advisors LP now owns 298,789 shares of the company’s stock valued at $4,294,000 after purchasing an additional 271,385 shares during the period. 84.02% of the stock is currently owned by institutional investors.

Insider Activity

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

NU Stock Performance

NYSE:NU opened at $14.03 on Tuesday. The stock has a market cap of $68.13 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 0.54 and a beta of 0.95. The firm’s fifty day simple moving average is $12.90 and its 200 day simple moving average is $14.75. 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 announced its earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. As a group, research analysts predict that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU announced that its board has approved a share buyback program on Thursday, June 4th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NU has been the topic of several recent analyst reports. Susquehanna cut shares of NU from a “positive” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $13.00 in a report on Wednesday, June 3rd. Needham & Company LLC assumed coverage on shares of NU in a report on Friday, June 26th. They set a “buy” rating and a $17.00 price target for the company. Bank of America reissued an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price target on the stock. in a report on Wednesday, June 3rd. Finally, Zacks Research cut shares of NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Ten equities 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.24.

NU Company 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.