VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 176,500 Nu Holdings Ltd. $NU

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Nu Holdings Ltd. (NYSE:NU) during the second quarter, Holdings Channel reports. The institutional investor acquired 176,500 shares of the company’s stock, valued at approximately $2,358,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in NU in the fourth quarter valued at approximately $763,792,000. Larch Capital Partners LLC purchased a new stake in shares of NU in the 4th quarter valued at $605,829,000. Squadra Investments Gestao DE Recursos LTDA. increased its stake in shares of NU by 266.8% in the first quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company’s stock worth $320,631,000 after acquiring an additional 16,229,515 shares during the period. Atmos Capital Gestao DE Recursos LTDA. raised its holdings in shares of NU by 109.1% during the fourth quarter. Atmos Capital Gestao DE Recursos LTDA. now owns 29,813,810 shares of the company’s stock worth $499,083,000 after purchasing an additional 15,552,726 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of NU by 98.4% during the third quarter. Marshall Wace LLP now owns 29,141,505 shares of the company’s stock worth $466,555,000 after purchasing an additional 14,449,834 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Price Performance

NU stock opened at $15.02 on Friday. The stock has a market capitalization of $72.95 billion, a P/E ratio of 20.30, a P/E/G ratio of 0.61 and a beta of 0.94. The company’s fifty day moving average price is $14.37 and its 200 day moving average price is $13.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.55. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98.

NU (NYSE:NU) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.22 earnings per share for the quarter. The company had revenue of $5.88 billion during the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. As a group, equities research analysts anticipate that Nu Holdings Ltd. will post 0.86 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on NU. Wolfe Research decreased their target price on shares of NU from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, August 25th. Weiss Ratings lowered NU from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 21st. JPMorgan Chase & Co. boosted their price objective on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 target price on the stock. in a research note on Wednesday, June 3rd. Finally, Needham & Company LLC raised their target price on NU from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, NU currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.91.

Insider Transactions at NU

In related news, 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 transaction, the insider owned 979,446 shares in the company, valued at $15,485,041.26. This represents a 18.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cristina Junqueira sold 65,000 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 2,542,083 shares in the company, valued at $37,394,040.93. This represents a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 361,707 shares of company stock valued at $5,626,338 in the last three months. Corporate insiders own 1.20% of the company’s stock.

About NU

Nu Holdings Ltd., operating under the Nubank brand, is a digital financial services company that provides banking, payments and credit products through mobile applications. Its offerings include digital bank accounts, credit cards, personal loans, payment services, investment products and insurance, serving consumers and small businesses.

Founded in Brazil in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nubank was established to simplify financial services and expand access to banking through technology.