NU (NYSE:NU) Receives Underperform Rating from Bank of America

NU (NYSE:NU)‘s stock had its “underperform” rating reaffirmed by investment analysts at Bank of America in a note issued to investors on Tuesday,Benzinga reports.

NU has been the subject of several other research reports. CICC Research assumed coverage on shares of NU in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price target for the company. UBS Group dropped their price target on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Weiss Ratings cut shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Itau BBA Securities reaffirmed an “outperform” rating on shares of NU in a research report on Tuesday, March 17th. Finally, Zacks Research cut shares of NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.39.

NU Stock Down 1.3%

Shares of NYSE NU opened at $12.97 on Tuesday. The company has a 50 day simple moving average of $13.98 and a 200-day simple moving average of $15.64. The company has a market capitalization of $62.95 billion, a P/E ratio of 19.95, a P/E/G ratio of 0.52 and a beta of 0.95. 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 has a 1 year low of $11.71 and a 1 year high of $18.98.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.06 billion. On average, equities research analysts predict that NU will post 0.84 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.81, for a total value of $4,443,000.00. Following the completion of the sale, the chief executive officer directly owned 2,312,338 shares of the company’s stock, valued at $34,245,725.78. The trade was a 11.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anita M. Sands sold 21,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $12.24, for a total transaction of $257,040.00. Following the completion of the sale, the director directly owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Investors Weigh In On NU

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LOM Asset Management Ltd purchased a new stake in shares of NU in the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of NU by 14,810.0% in the fourth 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 last quarter. Cornerstone Planning Group LLC raised its holdings 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 valued at $27,000 after buying an additional 1,580 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of NU in the fourth quarter valued at about $27,000. Finally, Morse Asset Management Inc purchased a new stake in shares of NU in the fourth quarter valued at about $31,000. 84.02% of the stock is owned by hedge funds and other institutional investors.

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.