ABN Amro Investment Solutions Acquires Shares of 121,101 Nu Holdings Ltd. $NU

ABN Amro Investment Solutions acquired a new position in shares of Nu Holdings Ltd. (NYSE:NU) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 121,101 shares of the company’s stock, valued at approximately $1,740,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of NU by 14,810.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock valued at $25,000 after buying an additional 1,481 shares during the period. LOM Asset Management Ltd bought a new position in shares of NU during the 4th quarter valued at about $25,000. Zions Bancorporation National Association UT acquired a new position in shares of NU in the 4th quarter valued at $27,000. Cornerstone Planning Group LLC increased its position in shares of NU by 5,448.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock worth $27,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new position in NU during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Insider Activity at NU

In related news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction 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 in the company, 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 filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NU. Needham & Company LLC assumed coverage on NU in a research note on Friday, June 26th. They set a “buy” rating and a $17.00 price target for the company. UBS Group reduced their target price on shares of NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Susquehanna downgraded shares of NU from a “positive” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $13.00 in a research note on Wednesday, June 3rd. Finally, Scotiabank lowered NU to a “sector perform” rating and set a $13.00 target price on the stock. in a research report on Wednesday, June 3rd. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NU presently has a consensus rating of “Moderate Buy” and an average price target of $17.24.

NU Stock Performance

Shares of NYSE:NU opened at $14.12 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The stock has a market capitalization of $68.54 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 0.57 and a beta of 0.95. The company’s 50 day simple moving average is $13.02 and its 200 day simple moving average is $14.69.

NU (NYSE:NU) last announced its quarterly 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). The company 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%. As a group, research analysts predict that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU announced that its board has authorized a stock repurchase program on Thursday, June 4th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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.