NU (NYSE:NU) Shares Down 0.7% – Here’s Why

Nu Holdings Ltd. (NYSE:NU) was down 0.7% on Wednesday . The company traded as low as $15.69 and last traded at $15.73. Approximately 8,109,671 shares changed hands during trading, a decline of 74% from the average daily volume of 31,782,705 shares. The stock had previously closed at $15.84.

Analyst Ratings Changes

NU has been the topic of several recent analyst reports. Barclays boosted their price objective on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. UBS Group lowered NU from a “buy” rating to a “neutral” rating and set a $13.50 target price for the company. in a report on Friday, August 2nd. Bank of America boosted their target price on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Susquehanna reiterated a “positive” rating and set a $16.00 price target on shares of NU in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.21.

NU Stock Down 0.7 %

The business has a 50 day moving average of $14.43 and a 200 day moving average of $13.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $74.97 billion, a price-to-earnings ratio of 50.84, a price-to-earnings-growth ratio of 0.72 and a beta of 1.13.

NU (NYSE:NU) last issued its earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same period in the prior year, the company posted $0.05 earnings per share. On average, equities analysts anticipate that Nu Holdings Ltd. will post 0.41 EPS for the current year.

Institutional Trading of NU

A number of large investors have recently bought and sold shares of NU. Quantbot Technologies LP boosted its holdings in NU by 60.4% in the third quarter. Quantbot Technologies LP now owns 195,708 shares of the company’s stock valued at $2,671,000 after acquiring an additional 73,686 shares during the last quarter. FMR LLC grew its stake in NU by 16.4% in the third quarter. FMR LLC now owns 61,801,891 shares of the company’s stock valued at $843,596,000 after purchasing an additional 8,728,833 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in NU by 94.1% in the third quarter. The Manufacturers Life Insurance Company now owns 609,709 shares of the company’s stock valued at $8,323,000 after purchasing an additional 295,520 shares in the last quarter. Qsemble Capital Management LP bought a new position in NU in the third quarter valued at approximately $881,000. Finally, Bank of Montreal Can grew its stake in NU by 85.3% in the third quarter. Bank of Montreal Can now owns 1,287,963 shares of the company’s stock valued at $17,864,000 after purchasing an additional 592,941 shares in the last quarter. 80.90% of the stock is currently owned by institutional investors.

About NU

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.