Assenagon Asset Management S.A. Decreases Holdings in Nu Holdings Ltd. $NU

Assenagon Asset Management S.A. decreased its position in Nu Holdings Ltd. (NYSE:NU) by 48.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,858,523 shares of the company’s stock after selling 15,676,568 shares during the quarter. Assenagon Asset Management S.A.’s holdings in NU were worth $225,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in shares of NU by 63.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock valued at $52,000 after acquiring an additional 1,464 shares during the last quarter. Jump Financial LLC lifted its position in NU by 541.8% in the second quarter. Jump Financial LLC now owns 185,434 shares of the company’s stock valued at $2,544,000 after purchasing an additional 156,539 shares during the last quarter. WINTON GROUP Ltd lifted its position in NU by 38.5% in the second quarter. WINTON GROUP Ltd now owns 37,156 shares of the company’s stock valued at $510,000 after purchasing an additional 10,332 shares during the last quarter. AXA S.A. boosted its stake in shares of NU by 1.4% during the second quarter. AXA S.A. now owns 192,311 shares of the company’s stock valued at $2,639,000 after purchasing an additional 2,682 shares during the period. Finally, Nebula Research & Development LLC boosted its stake in shares of NU by 63.7% during the second quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock valued at $274,000 after purchasing an additional 7,760 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Stock Performance

Shares of NU stock opened at $14.10 on Friday. Nu Holdings Ltd. has a one year low of $11.20 and a one year high of $18.98. The company’s 50-day moving average is $13.30 and its 200 day moving average is $14.50. The company has a market capitalization of $68.48 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 0.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58.

NU (NYSE:NU) last issued its earnings results on Friday, May 15th. The company reported $0.19 earnings per share (EPS) 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 firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.06 billion. Sell-side analysts expect that Nu Holdings Ltd. will post 0.83 EPS for the current fiscal year.

NU declared that its board has initiated a stock buyback plan 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 plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Bank of America reiterated an “underperform” rating on shares of NU in a report on Tuesday, June 2nd. Needham & Company LLC initiated coverage on shares of NU in a research report on Friday, June 26th. They issued a “buy” rating and a $17.00 price objective on the stock. UBS Group lowered their price objective on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a research note on Wednesday, May 20th. JPMorgan Chase & Co. increased their target price on shares of NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, Susquehanna lowered NU from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.24.

Insiders Place Their Bets

In related news, Director Anita M. Sands sold 21,000 shares of the company’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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

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.