Banco BTG Pactual S.A. Raises Stock Position in Nu Holdings Ltd. $NU

Banco BTG Pactual S.A. increased its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 95.4% during the 4th quarter, Holdings Channel reports. The fund owned 971,116 shares of the company’s stock after acquiring an additional 474,211 shares during the period. NU comprises approximately 2.8% of Banco BTG Pactual S.A.’s investment portfolio, making the stock its 7th largest position. Banco BTG Pactual S.A.’s holdings in NU were worth $16,256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Baillie Gifford & Co. boosted its stake in NU by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock worth $4,306,481,000 after acquiring an additional 5,797,365 shares in the last quarter. State Street Corp raised its holdings in NU by 0.3% during the third quarter. State Street Corp now owns 91,478,395 shares of the company’s stock worth $1,464,569,000 after buying an additional 239,660 shares during the last quarter. Norges Bank acquired a new position in NU during the fourth quarter worth $763,792,000. Jennison Associates LLC raised its holdings in NU by 82.6% during the fourth quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock worth $659,067,000 after buying an additional 17,809,644 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in NU by 5.0% during the third quarter. Legal & General Group Plc now owns 30,176,407 shares of the company’s stock worth $483,124,000 after buying an additional 1,430,827 shares during the last quarter. 84.02% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $14.81, for a total transaction of $4,443,000.00. Following the sale, the chief executive officer owned 2,312,338 shares of the company’s stock, valued at $34,245,725.78. This trade represents a 11.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.20% of the company’s stock.

NU Stock Performance

Shares of NU stock opened at $12.05 on Friday. The firm has a 50-day moving average of $13.62 and a 200-day moving average of $15.42. The company has a market cap of $58.51 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.46 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 Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98.

NU (NYSE:NU) last announced its earnings results on Friday, May 15th. The company reported $0.19 EPS 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 analysts’ expectations of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. Equities research analysts forecast that Nu Holdings Ltd. will post 0.84 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NU shares. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. Zacks Research downgraded shares of NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. CICC Research started coverage on shares of NU in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective on the stock. Itau BBA Securities restated an “outperform” rating on shares of NU in a report on Tuesday, March 17th. Finally, Weiss Ratings downgraded shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $17.08.

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.