Finivi Inc. Sells 36,373 Shares of Nu Holdings Ltd. $NU

Finivi Inc. lessened its position in shares of Nu Holdings Ltd. (NYSE:NU) by 13.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 235,621 shares of the company’s stock after selling 36,373 shares during the quarter. NU accounts for about 1.6% of Finivi Inc.’s investment portfolio, making the stock its 21st largest holding. Finivi Inc.’s holdings in NU were worth $3,148,000 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. Maxi Investments CY Ltd raised its position in shares of NU by 85.5% during the 4th quarter. Maxi Investments CY Ltd now owns 783,000 shares of the company’s stock valued at $13,107,000 after acquiring an additional 361,000 shares during the last quarter. C WorldWide Group Holding A S boosted its position in shares of NU by 1,045.3% in the 4th quarter. C WorldWide Group Holding A S now owns 311,792 shares of the company’s stock worth $5,219,000 after purchasing an additional 284,569 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of NU by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company’s stock worth $415,401,000 after purchasing an additional 1,037,438 shares during the period. Genoa Capital Gestora de Recursos Ltda. acquired a new stake in shares of NU during the fourth quarter worth $3,869,000. Finally, Danske Bank A S increased its holdings in NU by 515.0% in the fourth quarter. Danske Bank A S now owns 5,074,732 shares of the company’s stock valued at $84,951,000 after purchasing an additional 4,249,632 shares during the last quarter. 84.02% of the stock is owned by institutional investors.

Insider Transactions at NU

In related news, Director Anita M. Sands sold 21,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction 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 represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several research firms have weighed in on NU. UBS Group cut their target price on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Needham & Company LLC initiated coverage on NU in a research note on Friday, June 26th. They issued a “buy” rating and a $17.00 price target for the company. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 price target on the stock. in a research report on Wednesday, June 3rd. Susquehanna lowered shares of NU from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $13.00 in a research note on Wednesday, June 3rd. Finally, CICC Research initiated 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 investment 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, NU has a consensus rating of “Moderate Buy” and an average target price of $17.24.

NU Stock Down 0.2%

Shares of NU stock opened at $13.81 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. Nu Holdings Ltd. has a 1 year low of $11.20 and a 1 year high of $18.98. The firm’s fifty day moving average price is $13.32 and its two-hundred day moving average price is $14.48. The firm has a market capitalization of $67.04 billion, a P/E ratio of 21.24, a PEG ratio of 0.55 and a beta of 0.94.

NU (NYSE:NU) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. NU had a return on equity of 30.91% and a net margin of 18.20%. On average, equities analysts predict that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU declared that its board has authorized a stock buyback 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. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

About NU

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.