NU (NYSE:NU) Upgraded by Needham & Company LLC to Moderate Buy Rating

Needham & Company LLC upgraded shares of NU (NYSE:NU) to a moderate buy rating in a report released on Friday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Zacks Research downgraded shares of NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Weiss Ratings downgraded shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Susquehanna cut NU from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $13.00 in a research note on Wednesday, June 3rd. Bank of America reiterated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Finally, Itau BBA Securities reissued an “outperform” rating on shares of NU in a research note on Tuesday, March 17th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, NU has an average rating of “Moderate Buy” and a consensus target price of $17.07.

NU Price Performance

NU opened at $13.20 on Friday. The stock’s 50-day moving average price is $13.18 and its 200 day moving average price is $15.09. NU has a 12-month low of $11.20 and a 12-month high of $18.98. 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 firm has a market cap of $64.10 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 0.50 and a beta of 0.95.

NU (NYSE:NU) last released 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 analyst estimates of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. As a group, sell-side analysts expect that NU will post 0.83 earnings per share for the current year.

NU announced that its Board of Directors has authorized a share buyback plan on Thursday, June 4th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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 transaction, the director owned 162,150 shares of the company’s stock, valued at $1,984,716. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in NU by 63.5% during the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock worth $52,000 after purchasing an additional 1,464 shares during the last quarter. Jump Financial LLC raised its holdings in NU by 541.8% during the second quarter. Jump Financial LLC now owns 185,434 shares of the company’s stock worth $2,544,000 after purchasing an additional 156,539 shares in the last quarter. WINTON GROUP Ltd raised its holdings in NU by 38.5% during the second quarter. WINTON GROUP Ltd now owns 37,156 shares of the company’s stock worth $510,000 after purchasing an additional 10,332 shares in the last quarter. AXA S.A. lifted its position in shares of NU by 1.4% during the 2nd quarter. AXA S.A. now owns 192,311 shares of the company’s stock worth $2,639,000 after buying an additional 2,682 shares during the last quarter. Finally, Nebula Research & Development LLC lifted its position in shares of NU by 63.7% during the 2nd quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock worth $274,000 after buying an additional 7,760 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

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.