NU (NYSE:NU) Stock Price Expected to Rise, UBS Group Analyst Says

NU (NYSE:NU) had its price objective hoisted by equities research analysts at UBS Group from $18.20 to $20.50 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 41.11% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on NU. JPMorgan Chase & Co. lifted their price objective on shares of NU from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Wolfe Research dropped their target price on NU from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Susquehanna raised their price target on NU from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Weiss Ratings cut NU from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of NU in a report on Monday, September 28th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.12.

NU Stock Down 0.2%

Shares of NU stock opened at $14.53 on Tuesday. NU has a 52-week low of $11.20 and a 52-week high of $18.98. The company has a 50 day moving average of $14.50 and a 200 day moving average of $13.93. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $70.54 billion, a P/E ratio of 19.63, a P/E/G ratio of 0.60 and a beta of 0.95.

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

Insider Activity at NU

In other NU news, insider Henrique Camossa Sald Fragelli sold 221,707 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider owned 979,446 shares of the company’s stock, valued at approximately $15,485,041.26. This trade represents a 18.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cristina Junqueira sold 65,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total transaction 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. This represents a 2.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 386,707 shares of company stock worth $6,001,588 over the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in NU by 8.6% during the 1st quarter. Bank of America Corp DE now owns 45,966,932 shares of the company’s stock worth $660,545,000 after purchasing an additional 3,656,945 shares during the period. Assenagon Asset Management S.A. grew its position in NU by 127.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 38,263,897 shares of the company’s stock worth $484,421,000 after purchasing an additional 21,405,374 shares during the last quarter. Maverick Capital Ltd. grew its position in NU by 91.6% during the 1st quarter. Maverick Capital Ltd. now owns 22,444,311 shares of the company’s stock worth $322,525,000 after purchasing an additional 10,729,747 shares during the last quarter. Squadra Investments Gestao DE Recursos LTDA. grew its position in NU by 266.8% during the 1st quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company’s stock worth $320,631,000 after purchasing an additional 16,229,515 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in NU by 48.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,979,529 shares of the company’s stock valued at $272,736,000 after purchasing an additional 6,159,298 shares during the period. 84.02% of the stock is owned by hedge funds and other institutional investors.

NU Company Profile

Nubank (NYSE: NU) is a digital financial services company headquartered in São Paulo, Brazil. Founded in 2013, the company was established to simplify banking through technology and expand access to financial services in markets traditionally served by large, conventional institutions.

Nubank offers a range of consumer and business products, including digital bank accounts, credit cards, personal loans, payment services, investment products and insurance. Its platform is designed to allow customers to manage accounts, payments and other financial products through mobile applications and other digital channels.

The company primarily serves customers in Brazil, Mexico and Colombia.