TD Asset Management Inc Cuts Position in Nu Holdings Ltd. $NU

TD Asset Management Inc decreased its holdings in Nu Holdings Ltd. (NYSE:NU) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 808,952 shares of the company’s stock after selling 121,560 shares during the quarter. TD Asset Management Inc’s holdings in NU were worth $13,542,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NU. Norges Bank purchased a new position in NU in the fourth quarter worth $763,792,000. Lone Pine Capital LLC purchased a new position in NU in the third quarter worth $406,757,000. Jennison Associates LLC raised its position in NU by 82.6% in the fourth quarter. Jennison Associates LLC now owns 39,370,791 shares of the company’s stock worth $659,067,000 after acquiring an additional 17,809,644 shares in the last quarter. Marshall Wace LLP grew its holdings in NU by 98.4% in the third quarter. Marshall Wace LLP now owns 29,141,505 shares of the company’s stock valued at $466,555,000 after purchasing an additional 14,449,834 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in NU by 276.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 18,416,144 shares of the company’s stock valued at $294,842,000 after purchasing an additional 13,529,278 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NU Stock Down 3.2%

NU opened at $11.58 on Tuesday. 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 has a market cap of $56.25 billion, a P/E ratio of 17.82, a PEG ratio of 0.48 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 business’s fifty day simple moving average is $13.74 and its 200 day simple moving average is $15.50.

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 company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. As a group, equities research analysts anticipate that Nu Holdings Ltd. will post 0.84 EPS for the current fiscal year.

NU announced that its Board of Directors has initiated a share repurchase program on Thursday, June 4th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on NU. Itau BBA Securities reissued an “outperform” rating on shares of NU in a report on Tuesday, March 17th. CICC Research began coverage on NU in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Scotiabank lowered NU to a “sector perform” rating and set a $13.00 target price on the stock. in a report on Wednesday, June 3rd. UBS Group lowered their target price on NU from $18.10 to $16.90 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Finally, Zacks Research lowered NU from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 24th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.08.

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.