Nu Holdings Ltd. $NU is Manning & Napier Advisors LLC’s 10th Largest Position

Manning & Napier Advisors LLC reduced its holdings in shares of Nu Holdings Ltd. (NYSE:NU) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,667,236 shares of the company’s stock after selling 712,438 shares during the quarter. NU makes up 2.2% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Manning & Napier Advisors LLC’s holdings in NU were worth $153,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Equitable Trust Co. lifted its stake in NU by 1.4% during the first quarter. Equitable Trust Co. now owns 180,969 shares of the company’s stock worth $2,601,000 after purchasing an additional 2,464 shares during the last quarter. Hsbc Holdings PLC raised its holdings in NU by 444.1% during the first quarter. Hsbc Holdings PLC now owns 7,782,758 shares of the company’s stock worth $111,555,000 after purchasing an additional 6,352,288 shares in the last quarter. Whipplewood Advisors LLC lifted its position in shares of NU by 1,584.0% during the 1st quarter. Whipplewood Advisors LLC now owns 5,052 shares of the company’s stock worth $73,000 after buying an additional 4,752 shares during the last quarter. Mason & Associates Inc lifted its position in shares of NU by 2.7% during the 1st quarter. Mason & Associates Inc now owns 30,783 shares of the company’s stock worth $416,000 after buying an additional 808 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of NU by 48.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,979,529 shares of the company’s stock worth $272,736,000 after buying an additional 6,159,298 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

NU Stock Performance

Shares of NU traded up $0.12 during mid-day trading on Friday, reaching $13.79. 124,217,104 shares of the company’s stock were exchanged, compared to its average volume of 50,912,856. The business’s fifty day simple moving average is $12.93 and its 200-day simple moving average is $14.88. The stock has a market capitalization of $66.95 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 0.55 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 debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58.

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

NU declared that its Board of Directors has initiated a stock buyback plan on Thursday, June 4th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

NU has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of NU from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday. Scotiabank cut shares of NU to a “sector perform” rating and set a $13.00 price target for the company. in a research report on Wednesday, June 3rd. Weiss Ratings downgraded shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Susquehanna lowered NU from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $13.00 in a report on Wednesday, June 3rd. Finally, Needham & Company LLC started coverage on NU in a research report on Friday, June 26th. They set a “buy” rating and a $17.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NU presently has an average rating of “Moderate Buy” and an average target price of $17.24.

Insider Buying and Selling

In other NU news, Director Anita M. Sands sold 21,000 shares of NU stock in a transaction 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 transaction, the director directly owned 162,150 shares in the company, valued at approximately $1,984,716. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.