Thornburg Investment Management Inc. Has $17.90 Million Holdings in Nu Holdings Ltd. $NU

Thornburg Investment Management Inc. cut its position in Nu Holdings Ltd. (NYSE:NU) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,069,535 shares of the company’s stock after selling 121,851 shares during the quarter. Thornburg Investment Management Inc.’s holdings in NU were worth $17,904,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in NU by 14,810.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock valued at $25,000 after purchasing an additional 1,481 shares during the last quarter. LOM Asset Management Ltd bought a new position in NU in the fourth quarter valued at about $25,000. Zions Bancorporation National Association UT bought a new position in NU in the fourth quarter valued at about $27,000. Cornerstone Planning Group LLC raised its position in NU by 5,448.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock valued at $27,000 after purchasing an additional 1,580 shares during the last quarter. Finally, Morse Asset Management Inc bought a new position in NU in the fourth quarter valued at about $31,000. 84.02% of the stock is currently owned by institutional investors.

Insider Activity at NU

In related news, CEO Cristina Helena Zing Junqueira sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.81, for a total transaction of $4,443,000.00. Following the completion of the sale, the chief executive officer owned 2,312,338 shares of the company’s stock, valued at $34,245,725.78. This trade represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 162,150 shares of the company’s stock, valued at $1,984,716. This represents a 11.47% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

NU has been the subject of a number of analyst reports. Weiss Ratings downgraded NU from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Scotiabank downgraded NU to a “sector perform” rating and set a $13.00 price objective for the company. in a research report on Wednesday, June 3rd. Zacks Research downgraded NU from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 24th. Itau BBA Securities restated an “outperform” rating on shares of NU in a research report on Tuesday, March 17th. Finally, CICC Research initiated coverage on NU in a research report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.08.

NU Price Performance

Shares of NU opened at $12.16 on Monday. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $59.06 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.49 and a beta of 0.95. The business has a 50-day moving average of $13.58 and a 200-day moving average of $15.40.

NU (NYSE:NU) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.06 billion. As a group, equities research analysts anticipate that Nu Holdings Ltd. will post 0.84 earnings per share for the current year.

NU announced that its board has approved a stock repurchase program on Thursday, June 4th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

NU Company 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.