FirstWave Capital Management LLC Increases Position in Nu Holdings Ltd. $NU

FirstWave Capital Management LLC boosted its position in shares of Nu Holdings Ltd. (NYSE:NU) by 78.9% in the second quarter, Holdings Channel reports. The fund owned 518,327 shares of the company’s stock after acquiring an additional 228,575 shares during the period. NU accounts for 3.1% of FirstWave Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. FirstWave Capital Management LLC’s holdings in NU were worth $6,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NU. Morgan Stanley boosted its stake in NU by 2.9% during the 4th quarter. Morgan Stanley now owns 121,350,701 shares of the company’s stock valued at $2,031,411,000 after purchasing an additional 3,419,077 shares during the period. State Street Corp increased its position in NU by 0.3% in the 3rd 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 period. Bank of America Corp DE lifted its holdings in shares of NU by 8.6% during the first quarter. Bank of America Corp DE now owns 45,966,932 shares of the company’s stock worth $660,545,000 after buying an additional 3,656,945 shares during the last quarter. Norges Bank bought a new stake in shares of NU in the fourth quarter valued at approximately $763,792,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of NU by 11.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,602,086 shares of the company’s stock valued at $713,160,000 after acquiring an additional 4,215,824 shares during the period. 84.02% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Cristina Junqueira sold 65,000 shares of NU stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total transaction of $956,150.00. Following the sale, the chief executive officer directly owned 2,542,083 shares in the company, valued at approximately $37,394,040.93. The trade was a 2.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $15.81, for a total transaction of $3,505,187.67. Following the completion of the sale, the insider directly owned 979,446 shares in the company, valued at approximately $15,485,041.26. The trade was a 18.46% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 361,707 shares of company stock valued at $5,626,338. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NU shares. UBS Group boosted their target price on shares of NU from $16.90 to $18.20 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings lowered shares of NU from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 21st. 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. Needham & Company LLC upped their price objective on shares of NU from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Finally, Susquehanna increased their target price on shares of NU from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.91.

NU Stock Performance

NU opened at $15.34 on Friday. The stock’s 50 day simple moving average is $14.23 and its 200-day simple moving average is $14.07. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. The stock has a market cap of $74.49 billion, a PE ratio of 20.73, a P/E/G ratio of 0.61 and a beta of 0.94. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98.

NU (NYSE:NU) last issued its earnings results on Tuesday, June 30th. The company reported $0.22 EPS for the quarter. NU had a return on equity of 31.59% and a net margin of 18.65%.The firm had revenue of $5.88 billion during the quarter. Sell-side analysts forecast that Nu Holdings Ltd. will post 0.86 EPS for the current year.

NU announced that its board has authorized a stock repurchase plan on Thursday, June 4th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

NU 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.