Arrowstreet Capital Limited Partnership Cuts Stake in Nu Holdings Ltd. $NU

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 47.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,802,391 shares of the company’s stock after selling 13,507,693 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.30% of NU worth $212,710,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in NU. Norges Bank bought a new position in NU in the 4th quarter worth approximately $763,792,000. Larch Capital Partners LLC bought a new position in shares of NU in the fourth quarter valued at approximately $605,829,000. Jennison Associates LLC grew its holdings in shares of NU by 82.6% during the 4th quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock worth $659,067,000 after purchasing an additional 17,809,644 shares in the last quarter. Atmos Capital Gestao DE Recursos LTDA. lifted its holdings in NU by 109.1% during the 4th quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 29,813,810 shares of the company’s stock valued at $499,083,000 after purchasing an additional 15,552,726 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in NU by 98.4% in the third quarter. Marshall Wace LLP now owns 29,141,505 shares of the company’s stock valued at $466,555,000 after acquiring an additional 14,449,834 shares during the last quarter. 84.02% of the stock is owned by institutional investors.

NU Stock Performance

NU opened at $14.12 on Friday. 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’s 50 day moving average is $13.02 and its 200 day moving average is $14.69. The company has a market cap of $68.54 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 0.57 and a beta of 0.95. Nu Holdings Ltd. has a 12-month low of $11.20 and a 12-month high of $18.98.

NU (NYSE:NU) last issued its earnings results on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm 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, equities research analysts predict that Nu Holdings Ltd. will post 0.83 EPS for the current year.

NU declared that its Board of Directors has approved a share buyback plan 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 plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other NU news, Director Anita M. Sands sold 21,000 shares of NU 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 $1,984,716. The trade was a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NU. Needham & Company LLC started coverage on NU in a research report on Friday, June 26th. They issued a “buy” rating and a $17.00 target price on the stock. Scotiabank cut 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. Bank of America reissued an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. increased their price target on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, CICC Research started coverage on shares of NU in a research report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective for the company. Ten research 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’s stock. According to data from MarketBeat.com, the stock presently has an average 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.