CI Investments Inc. Purchases 2,909,356 Shares of Nu Holdings Ltd. $NU

CI Investments Inc. lifted its position in shares of Nu Holdings Ltd. (NYSE:NU) by 199.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,366,670 shares of the company’s stock after purchasing an additional 2,909,356 shares during the period. CI Investments Inc. owned 0.09% of NU worth $62,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its stake in shares of NU by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock worth $4,306,481,000 after buying an additional 5,797,365 shares during the last quarter. Morgan Stanley increased its position in shares of NU by 2.9% during the fourth quarter. Morgan Stanley now owns 121,350,701 shares of the company’s stock valued at $2,031,411,000 after acquiring an additional 3,419,077 shares during the last quarter. State Street Corp lifted its holdings in NU by 0.3% during the third quarter. State Street Corp now owns 91,478,395 shares of the company’s stock worth $1,464,569,000 after acquiring an additional 239,660 shares during the period. Norges Bank bought a new stake in NU during the fourth quarter worth $763,792,000. Finally, Price T Rowe Associates Inc. MD boosted its position in 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 worth $713,160,000 after purchasing an additional 4,215,824 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 21,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $12.24, for a total value of $257,040.00. Following the completion of the transaction, the director directly owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NU Price Performance

NYSE NU opened at $14.38 on Wednesday. The company has a market cap of $69.85 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95. Nu Holdings Ltd. has a 52 week low of $11.20 and a 52 week high of $18.98. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $12.92 and its two-hundred day simple moving average is $14.73.

NU (NYSE:NU) last posted its earnings results on Friday, May 15th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Research analysts predict that Nu Holdings Ltd. will post 0.83 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Zacks Research cut NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Susquehanna downgraded shares of NU from a “positive” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $13.00 in a report on Wednesday, June 3rd. Needham & Company LLC initiated coverage on shares of NU in a research report on Friday, June 26th. They set a “buy” rating and a $17.00 price target for the company. Finally, CICC Research began coverage on shares of NU in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.24.

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.