NU (NYSE:NU) Price Target Raised to $23.00

NU (NYSE:NU) had its price target raised by JPMorgan Chase & Co. from $20.00 to $23.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on NU. Itau BBA Securities cut NU from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $20.00 to $18.00 in a research note on Wednesday, September 16th. UBS Group boosted their price objective on NU from $16.90 to $18.20 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of NU in a report on Monday, September 28th. Weiss Ratings downgraded NU from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, Rothschild & Co Redburn set a $19.00 price target on NU in a research note on Monday, September 28th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.29.

NU Price Performance

NU stock opened at $15.40 on Tuesday. The stock has a market cap of $74.76 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 0.64 and a beta of 0.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.55. The company has a 50 day simple moving average of $14.36 and a 200 day simple moving average of $13.88. NU 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 earnings per share for the quarter. The firm had revenue of $5.88 billion for the quarter. NU had a net margin of 18.65% and a return on equity of 31.59%. Research analysts anticipate that NU will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling at NU

In related news, CEO Cristina Junqueira sold 65,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total value of $956,150.00. Following the sale, the chief executive officer owned 2,542,083 shares of the company’s stock, valued at $37,394,040.93. The trade was a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 stock in a transaction on Friday, August 14th. The shares were sold at an average price of $15.81, for a total value of $3,505,187.67. Following the completion of the sale, the insider owned 979,446 shares of the company’s stock, valued at $15,485,041.26. The trade was a 18.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 386,707 shares of company stock valued at $6,001,588 in the last ninety days. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Harbor Investment Advisory LLC increased its stake in shares of NU by 68.2% in the second quarter. Harbor Investment Advisory LLC now owns 3,010 shares of the company’s stock valued at $40,000 after buying an additional 1,220 shares during the period. Whipplewood Advisors LLC raised its position in shares of NU by 1,584.0% during the first quarter. Whipplewood Advisors LLC now owns 5,052 shares of the company’s stock worth $73,000 after acquiring an additional 4,752 shares during the last quarter. Jessup Wealth Management Inc acquired a new position in shares of NU in the fourth quarter worth approximately $74,000. Ancora Advisors LLC bought a new stake in NU in the second quarter valued at approximately $76,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in NU by 58.1% in the first quarter. EverSource Wealth Advisors LLC now owns 6,468 shares of the company’s stock valued at $93,000 after acquiring an additional 2,377 shares during the last quarter. 84.02% of the stock is owned by institutional investors.

About NU

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

Nubank was founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible with the goal of expanding access to simpler, lower-cost financial services through technology.